SitusAMC Breach Incident Score: Analysis & Impact (SIT1640716112525)

In this Rankiteo incident briefing, we review the SitusAMC breach identified under incident ID SIT1640716112525.

The analysis begins with a detailed overview of SitusAMC's information like the linkedin page: https://www.linkedin.com/company/situsamc, the number of followers: 52264, the industry type: Real Estate and the number of employees: 4500 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 719 and after the incident was 646 with a difference of -73 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 SitusAMC and their customers.

On 18 November 2023, SitusAMC disclosed Data Breach issues under the banner "SitusAMC Data Breach Exposes JPMorgan, Citi, and Morgan Stanley Customer Data".

Financial service provider SitusAMC confirmed a data breach on 12th November 2023, potentially exposing sensitive corporate data tied to its banking customers, including JPMorgan Chase, Citigroup, and Morgan Stanley.

The disruption is felt across the environment, and exposing Corporate data tied to banking customers' relationships, Accounting records and Legal agreements.

In response, teams activated the incident response plan, moved swiftly to contain the threat with measures like Credential resets, Disabled remote access tools and Updated firewall rules, and stakeholders are being briefed through Public statement and Breach notifications to affected institutions (JPMorgan, Citi, Morgan Stanley).

The case underscores how Ongoing (scope and nature under investigation), teams are taking away lessons such as Third-party vendor risks can cascade across financial sector partners, Continuous validation of IT environments and supply chain security is critical and Assumptions about security controls must be verified, not taken for granted, and recommending next steps like Enforce multi-factor authentication (MFA) and single sign-on (SSO) across all systems, Regularly evaluate security posture of partners/vendors with strong fundamentals and Maintain procedures to prevent breaches from spreading through vendor networks, with advisories going out to stakeholders covering Breach notifications sent to JPMorgan Chase, Citi, and Morgan Stanley.

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 to high confidence (70%), supported by evidence indicating third-party vendor dependencies vulnerability exploited; no specific vector but implies external-facing system compromise and Valid Accounts (T1078) with moderate to high confidence (80%), supported by evidence indicating credential resets performed post-breach suggests attackers used legitimate credentials. Under the Credential Access tactic, the analysis identified Unsecured Credentials: Credentials In Files (T1552.001) with moderate confidence (60%), supported by evidence indicating disabled remote access tools implies attackers may have harvested credentials from config files/systems. Under the Collection tactic, the analysis identified Data from Local System (T1005) with high confidence (95%), supported by evidence indicating stolen corporate data tied to banking customers relationships, accounting records, legal agreements. Under the Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol: Exfiltration Over Unencrypted/Obfuscated Non-C2 Protocol (T1048.003) with high confidence (90%), supported by evidence indicating focused effort on data exfiltration; no ransomware implies dedicated exfiltration channels. Under the Defense Evasion tactic, the analysis identified Indicator Removal: File Deletion (T1070.004) with moderate to high confidence (70%), supported by evidence indicating no encrypting malware detected suggests attackers cleaned up traces post-exfiltration and Impair Defenses: Disable or Modify Tools (T1562.001) with moderate to high confidence (85%), supported by evidence indicating disabled remote access tools post-breach implies attackers may have tampered with security tools. Under the Impact tactic, the analysis identified Data from Cloud Storage (T1530) with moderate to high confidence (80%), supported by evidence indicating billions of loan-related documents annually suggests cloud/enterprise storage systems targeted. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.