Bank Of America Admits Paycheck Protection Program Data Breach – Enterprise Security Expert Comments

By   ISBuzz Team
Writer , Information Security Buzz | May 28, 2020 03:56 am PST

Late last week Bank of America Corporation disclosed a data breach affecting clients who have applied for the Paycheck Protection Program (PPP). Client information was exposed on April 22 when the bank uploaded PPP applicants’ details onto the US Small Business Administration’s test platform. The platform was designed to give lenders the opportunity to test the PPP submissions before the second round of applications kicked off. The breach was revealed in a filing made by Bank of America with the California Attorney General’s Office. As a result of the incident, other SBA-authorized lenders and their vendors were able to view clients’ information.