Albany Bank & Trust Co. NA (Albank) Suffers Ransomware Attack

Albany Bank & Trust Co. NA (Albank) has recently become a target of the ransomware group alphv, as disclosed on their dark web leak site. This financial institution, which operates within the Finance sector, has experienced a significant cybersecurity breach through a ransomware attack.

Albank prides itself on offering both business internet banking and personal banking services, with a strong emphasis on security measures and FDIC insurance. The bank's official website is a resource for information on secure money transfers between Albank accounts and to other financial institutions.

In a historical context, Albany faced a ransomware attack in 2019, which resulted in $300,000 in repair costs. Furthermore, the bank reported a data breach in May 2022, marking another significant cybersecurity incident.

While the bank's website underscores its dedication to online security, the specific vulnerabilities that facilitated the ransomware attack have not been disclosed. The size of the company and its distinctive features within the industry remain unspecified, yet its commitment to cybersecurity is evident.

Sources

• Albany Bank & Trust Co. NA (Albank) Website: www.albank.com
• Times Union: "Ransomware attack on Albany cost $300,000" Article Link
• WAMC: "Albany Ransomware Attack: Bank Accounts Hit" Article Link
• JD Supra: "Albany Bank & Trust Co. Reports Data Breach Following Data Security Incident" Article Link
• MeriTalk: "Albany, N.Y., Hit by Ransomware Attack" Article Link