French Government Confirms Massive Data Breach Exposing 1.2 Million Bank Accounts

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France Discloses Massive Bank Account Breach Exposing 1.2 Million Records

The French Ministry of Economy recently revealed a significant data breach that compromised sensitive information on approximately 1.2 million bank accounts. The unauthorized access occurred in late January and targeted the national bank account registry, FICOBA.

Breach Details

According to officials, a threat actor obtained the login credentials of an authorized personnel member and used them to access the database containing information on all bank accounts opened in France. The exposed data includes International Bank Account Numbers (IBANs), account holder names, addresses, and tax identifiers in some cases.

Impact and Response

Although the attacker’s access has been terminated, affected individuals are being notified and warned about potential phishing attempts and scams. Fortunately, the breach did not allow the attacker to perform banking operations or view account balances.

“Granting broad access to sensitive systems via a single identity without additional security measures introduces significant risk,” said Michael Jepson, Penetration Testing Manager at CybaVerse. “Modern security practices dictate that access should be determined strictly by operational need rather than hierarchy, as senior figures are often primary targets for threat actors.”

Jepson further noted that traditional approaches to access control, which often increase access scope with seniority, are no longer suitable in modern threat environments. “Excessive privilege can be particularly dangerous, especially for senior figures who are frequently targeted by threat actors,” he added.

Conclusion

The French government’s disclosure of the breach serves as a reminder of the importance of robust security measures and access controls in protecting sensitive data. As threat actors continue to evolve their tactics, organizations must prioritize the security of their systems and data to prevent similar breaches.