American Bank Systems Sued Over Ransomware Data Breach

By Matthew Santoni (December 17, 2020, 5:18 PM EST) -- An Oklahoma-based document-management company for banks failed to protect private information from a ransomware attack, leading to exposure of bank customers' information online, according to a proposed class action filed in Pennsylvania federal court Wednesday.

American Bank Systems Inc. failed to secure personally identifiable information, also known as PII, collected from banks it worked with, per the lawsuit. So when it was hit with a ransomware attack in October or November, the actors were able to steal more than 50 gigabytes of bank customers' personal and financial information, the suit said.

"As a result of ABS's failure to implement and follow...

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