Flagstar Bank Breach Incident Score: Analysis & Impact (FLA3192831110725)

In this Rankiteo incident briefing, we review the Flagstar Bank breach identified under incident ID FLA3192831110725.

The analysis begins with a detailed overview of Flagstar Bank's information like the linkedin page: https://www.linkedin.com/company/flagstar-bank, the number of followers: 51071, the industry type: Banking and the number of employees: 7252 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 770 and after the incident was 599 with a difference of -171 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 Flagstar Bank and their customers.

Flagstar Bank recently reported "Flagstar Bank Data Breaches (2021-2022) and Regulatory Settlements", a noteworthy cybersecurity incident.

Flagstar Bank agreed to a $31.5 million settlement in class-action lawsuits and paid $3.5 million to the SEC for misleading statements related to two data breaches that exposed the personal information of millions of customers in 2021 and 2022.

The disruption is felt across the environment, and exposing Personal information of millions of customers, with nearly Millions records at risk, plus an estimated financial loss of $35 million (settlements + SEC fine).

Formal response steps have not been shared publicly yet.

The case underscores how Settled (class-action and SEC).

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 Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol (T1048) with moderate to high confidence (85%), supported by evidence indicating data exfiltration such as Yes, number of records exposed such as Millions. Under the Initial Access tactic, the analysis identified Valid Accounts (T1078) with moderate to high confidence (75%), supported by evidence indicating type of data compromised such as Personal information (implied unauthorized access). Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with lower confidence (30%), supported by evidence indicating sensitivity of data such as High (though no ransomware confirmed, data exposure implies impact) and Resource Hijacking (T1496) with lower confidence (40%), supported by evidence indicating financial loss such as $35 million (misuse of customer data for fraud/legal liabilities). Under the Credential Access tactic, the analysis identified Unsecured Credentials (T1552) with moderate to high confidence (70%), supported by evidence indicating personal information of millions exposed (likely included credentials or PII for account access). These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.