1st Source Bank says it is another victim of Progress Software's MOVEit hack

1st Source Corp.'s (S) 1st Source Bank said Monday it is one of the several companies impacted by a cyberattack involving Progress Software Corp. (PRGS) file-transfer software. The company used the software, called MOVEit, for secure file transfers supporting internal operations and client services, it said. 1st Source patched the software according to Progress's protocols and took other measures to contain the problem, it said. An investigation is ongoing, 1st Source said. As part of the continuing investigation, the company discovered that an unauthorized third-party gained access to sensitive client data of commercial and individual clients, including personally identifiable information. 1st Source "has notified and is working with its commercial clients so impacted and is in the process now of identifying and directly notifying individual clients who have been impacted," it said. The "vulnerability has been contained and there is no indication that there has been any impact on any of the company's information systems other than the MOVEit application," it said. Shares of 1st Source and Progress were flat in the extended session after ending the regular trading day 0.1% and 0.9% higher, respectively. MOVEit's breach was discovered last month and cybersecurity experts estimate that it has compromised hundreds of organizations globally

-Claudia Assis

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07-10-23 1613ET

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