Frost Bank Alerts Business Customers to Security Breach

Print Share on LinkedIn Comments More
The Frost Bank Tower. Photo by Scott Ball.

Scott Ball / Rivard Report

The Frost Bank Tower.

Detecting a possible malicious breach in its systems this week, Frost Bank began notifying commercial customers Friday afternoon that hackers may have gained access to information that could be used to forge checks.

The breach affected Frost Bank’s commercial customers who use lockbox services to make deposits. A lockbox service stores images of checks stored electronically in an image archive. The unauthorized access was limited to a third-party software program serving about 470 commercial customers.

The incident did not impact other Frost systems, the bank said.

Frost Bank spokesman Bill Day said the bank alerted federal law enforcement authorities after discovering the breach and stopping the unauthorized access. The bank is helping with the investigation and also working with a leading cybersecurity firm.

“At Frost, we care deeply about taking care of our customers and protecting their information, and we regret that this situation has occurred,” stated Frost Chairman and CEO Phil Green. “We are working very hard to make things right.”

Cybercrime in the U.S. increased 24 percent in 2016, with losses exceeding $1.3 billion, according to a report issued by the Federal Bureau of Investigation’s Internet Crime Complaint Center.

Frost is urging concerned customers to contact a Frost banker or refer to information posted to the bank’s website.

 

3 thoughts on “Frost Bank Alerts Business Customers to Security Breach

  1. Terrific writing on arbitrary topics. Im trying to currently
    accomplish something such as what you have here except on
    a different topic totally. Thank you for the inspiration to
    write better content.

  2. shari, I would bet the breach was much much bigger. we just got notified as apparently were a number of others who were at the bank today. the central park branch basically blew us off saying there was nothing to be worried about.they are saying our breach occurred at the bexar county tax assessor’s office. if that is so there is a much bigger story here. good luck

  3. The reporting on this breach tends to minimize the impact and imply the breach only affects 470 commercial customers. The breach actually affects every individual who has mailed a check to one of those 470 Frost commercial customers. The check images exposed in the breach were written by customers making payments to the 470 businesses. Name, bank account number and routing number of individuals who made the payments have been compromised. This is a big deal!

Leave a Reply

Your email address will not be published. Required fields are marked *