A recent dark web post by threat actor “Bank_Spider” has purportedly exposed sensitive data from Citizens Financial Group, marking the latest in a series of cybersecurity incidents plaguing the U.S. banking sector.
While the Rhode Island-based bank has yet to confirm the breach’s validity, cybersecurity analysts warn the alleged leak could impact millions of customers.
Breach Details and Alleged Data Exposure
According to the post from DarkWebInformer, the leaked data includes customer names, Social Security numbers, account balances, and transaction histories.
The threat actor claims to have accessed 22 GB of proprietary data, including internal communications and vulnerability reports.
This follows Citizens Bank’s December 2024 disclosure of an insider-driven breach affecting 8,300 individuals, where employees’ credentials were allegedly misused to access GDPR-protected information.
Cybersecurity firm Breachsense notes similarities to LockBit’s 2023 attack on the bank, which exploited unpatched Microsoft Exchange vulnerabilities.
Institutional Response and Regulatory Fallout
Citizens Bank has activated its incident response protocol, engaging Mandiant consultants to investigate.
The CFPB, which fined the bank $9 million in 2024 for mishandling credit card disputes, is monitoring the situation.
Legal experts anticipate renewed scrutiny of the bank’s security practices, particularly after its 2022 brand impersonation incident where threat actors cloned login portals to harvest ATM PINs and security questions.
“The pattern of breaches suggests systemic vulnerabilities in third-party vendor management,” noted Avi Cohen, a Tel Aviv-based cybersecurity analyst.
Broader Implications for Financial Cybersecurity
The incident coincides with a 40% year-over-year increase in ransomware attacks against U.S. financial institutions, per Google’s Threat Intelligence Group.
Of particular concern is the overlap between cybercriminal groups and state-aligned actors; Russian-linked UNC2589 and Iranian UNC757 have both exploited financial sector vulnerabilities for dual financial espionage operations.
Meanwhile, dark web markets like CornDB continue monetizing stolen data, with 672,258 Israeli credit card records sold in November 2024 alone.
As investigations continue, Citizens Bank faces mounting pressure to disclose the breach’s full scope. The company has extended free credit monitoring to affected customers, mirroring its response to prior incidents.
However, with 32% of U.S. banking breaches now involving insider threats, experts urge systemic reforms to access controls and real-time dark web monitoring.
Forbes cybersecurity correspondent Mark Hoffman summarizes: “When a $226 billion institution gets hacked repeatedly, it’s not just a breach—it’s a wake-up call for the entire financial ecosystem.”
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