Rockport Mortgage Faces Ransomware Threat from Black Basta
Ransomware Attack on Rockport Mortgage: A Detailed Analysis
Rockport Mortgage Corporation, a key player in the commercial mortgage banking sector, recently fell victim to a ransomware attack orchestrated by the notorious Black Basta group. This incident highlights the vulnerabilities faced by financial institutions, particularly those specializing in FHA-insured financing programs.
Company Profile and Industry Standing
Founded in 1992 and headquartered in Gloucester, Massachusetts, Rockport Mortgage has established itself as a leading provider of financing solutions for multifamily housing and healthcare facilities. With over $11 billion in loans financed across 38 states, the company is renowned for its expertise in FHA loan programs, offering competitive terms and customized financing structures. Rockport's commitment to community engagement and its proactive approach to regulatory changes further distinguish it in the industry.
Attack Overview
The ransomware attack was discovered in early October, leading to unauthorized access to Rockport's systems. Sensitive personal identifiable information, including names, Social Security numbers, and financial account details, was potentially compromised. The breach prompted an investigation, and by November 15, affected individuals were notified, with the company offering 24 months of complimentary credit monitoring services.
Black Basta Ransomware Group
Emerging in April 2022, Black Basta operates as a Ransomware-as-a-Service (RaaS) provider, known for its double extortion tactics. The group targets high-value sectors like finance, leveraging sophisticated techniques to infiltrate systems. Black Basta's operations are characterized by a closed affiliate model, ensuring stringent control over attacks and ransom negotiations.
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