The U.S. Treasury Department’s Office of the Comptroller of the Currency (OCC) has revealed that emails belonging to its executives and staff were compromised in a recent cyberattack, pointing to long-standing IT security flaws as a contributing factor.
Sensitive Financial Data Potentially Exposed
In a statement released Tuesday, the OCC confirmed that the breach involved unauthorized access to emails containing highly sensitive information, including details related to the financial condition of federally regulated institutions.
The agency, responsible for regulating national banks and federal savings associations, informed Congress of the breach, which it initially detected on February 11. The OCC formally disclosed the incident approximately two weeks later, initially noting that it involved an administrative account in its email system and that there was no indication of broader impact on the financial sector at the time.
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Internal Review Underway
Following the breach, the OCC announced it would conduct an immediate and comprehensive evaluation of its current cybersecurity protocols and IT infrastructure. The goal is to strengthen its ability to detect, prevent, and respond to similar incidents in the future.
Acting Comptroller of the Currency Rodney E. Hood emphasized that the breach was partly the result of “long-held organizational and structural deficiencies.” He assured the public that there would be accountability for the weaknesses and missed opportunities that allowed the intrusion to occur.
Unclear Origins and Scope
The OCC has yet to reveal the specific technical vulnerabilities exploited during the breach or to publicly identify the perpetrators. The agency has not responded to additional inquiries for comment or further details about the scope and impact of the hack.
The incident underscores the growing threat of cyberattacks targeting regulatory agencies, especially those that handle sensitive financial data and oversee critical national infrastructure.
