Bank of America Data Breach affects the clients

According to the source, Bank of America has mentioned in a statement that the data breach affected the clients who applied for the Paycheck Protection Program(PPP).

The Client data was exposed on April 22 when the bank uploaded the final PPP applicant’s details in the US small business administration’s test platform.

The platform was designed to give lenders the opportunity for the test PPP submissions before the second round for the application kicker out.

The breach was done while filling made by the bank of America with California attorney General’s office. After that, the other SBA-authorized lenders and the vendors were able to see the client’s information.

The information which was leaked included not only the user data but also the owner’s information. The data compromised that also included a business address and tax identification number along with the owner’s name, social security number, address, phone number, email address, and citizenship status.

According to the headquarters of Bank which is situated In Charlotte, North Carolina mentions that the information access is limited.

The spokesperson of the bank said” There is not to worry about your information because it was not viewed or misused by these leaders or vendors. The Information was not visible to other business clients applying for the loans, or the public at any time.”

The Exposed data was drawn from a pool of nationwide applications, meaning that business in multiple states.

Around 305,000 PPP relief applications have been proposed by the Bank of America.

After the breach, the bank of America asked the small business administration to remove the visible information. 

The bank also expressed that the PPP application should not be affected by the cybersecurity mishap. An internal investigation has been launched to determine the data exposed.

Bank of America is offering clients affected by the breach free two-year membership for the theft protection.