Bayview Asset Management, LLC Breach Incident Score: Analysis & Impact (BAY3802138111525)

In this Rankiteo incident briefing, we review the Bayview Asset Management, LLC breach identified under incident ID BAY3802138111525.

The analysis begins with a detailed overview of Bayview Asset Management, LLC's information like the linkedin page: https://www.linkedin.com/company/bayview-asset-management, the number of followers: 25326, the industry type: Financial Services and the number of employees: 998 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 759 and after the incident was 657 with a difference of -102 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Bayview Asset Management, LLC and their customers.

Bayview Asset Management recently reported "Bayview Asset Management Data Breach (2021)", a noteworthy cybersecurity incident.

Bayview Asset Management and three affiliates (Community Loan Servicing, Lakeview Loan Servicing, and Pingora Loan Servicing) experienced a data breach affecting 5.8 million people between October 27, 2021, and December 7, 2021.

The disruption is felt across the environment, and exposing Personally Identifiable Information (PII), with nearly 5,800,000 records at risk.

In response, and began remediation that includes Agreed to comply with federal and New York State Department of Financial Services cybersecurity standards post-breach, and stakeholders are being briefed through Public notices issued by Lakeview Loan Servicing (2022-03).

The case underscores how Settlement agreed (subject to court approval); formal agreement to be filed within 45 days (as of 2024), and recommending next steps like Enforce cybersecurity measures to comply with federal and NY DFS standards (as per regulatory agreement), with advisories going out to stakeholders covering Public notices issued by Lakeview Loan Servicing (2022-03).

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Exploit Public-Facing Application (T1190) with moderate confidence (60%), supported by evidence indicating flaws in cybersecurity handling led to breach (regulatory findings) and Valid Accounts (T1078) with moderate confidence (50%), supported by evidence indicating no explicit vector, but negligent practices *may* imply credential misuse. Under the Collection tactic, the analysis identified Data from Local System (T1005) with high confidence (95%), supported by evidence indicating pII of 5.8 million individuals exposed (borrower records). Under the Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol: Exfiltration to Cloud Storage (T1048.003) with moderate to high confidence (80%), supported by evidence indicating data exfiltration such as Yes (no method specified, but cloud likely given scale). Under the Impact tactic, the analysis identified Data Destruction (T1485) with lower confidence (10%), supported by evidence indicating no explicit destruction, but PII exposure implies potential misuse and Data Encrypted for Impact (T1486) with lower confidence (5%), supported by evidence indicating no ransomware mentioned, but included for completeness (low confidence). Under the Defense Evasion tactic, the analysis identified Impair Defenses: Disable or Modify Tools (T1562.001) with moderate to high confidence (70%), supported by evidence indicating negligent cybersecurity practices (regulatory penalty citation). These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.