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Solarwinds Security Breach

On Sunday, December 13th, the IT products and services company, SolarWinds, issued a statement announcing a compromise of their systems resulting in malicious tampering with their IT monitoring and management product.

The attack appears to have been spread through software updates to SolarWinds’ customers around the globe, including the U.S Treasury and Commerce Departments and other significant financial sector organizations, third parties, and service providers.

Details on the attack can be found on the following websites:

https://www.solarwinds.com/securityadvisory

https://krebsonsecurity.com/2020/12/u-s-treasury-commerce-depts-hacked-through-solarwinds-compromise/

Commencement Bank does not utilize the SolarWinds product; however, out of precaution for the Bank’s information security, our network team is actively monitoring our environment based on warning signs related to the case. We are also proactively reaching out to vendors within our supply chain to verify they are actively monitoring their systems for any indications of compromise from this attack.

We assure our clients that no malicious activity has been observed on our network to-date, nor to any of our immediate vendors. We recommend Bank clients review their own information security procedures and contact a security professional if they feel they may be susceptible to this attack.

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