Cadence Bank Responds to Major Cybersecurity Breach: What Customers Need to Know

Introduction

Cadence Bank is grappling with a significant cybersecurity breach that has compromised sensitive user data. The breach originated from vulnerabilities in Progress Software's MOVEit® Transfer application, raising concerns for both private and governmental organizations worldwide. This article aims to provide an in-depth look at the breach, the bank's response, and the steps customers should take to protect themselves against potential fraud.

The Breach and Its Discovery

On May 31, Progress Software identified vulnerabilities in its MOVEit® Transfer application, which led to the cybersecurity breach at Cadence Bank. The bank immediately activated security measures and initiated an extensive investigation to understand the extent of the breach and identify affected individuals. Preliminary findings indicate that some sensitive data was compromised, although a comprehensive investigation is still ongoing.

Cadence Bank's Response

In the wake of the breach, Cadence Bank has been proactive in advising its customers to take specific steps to safeguard their personal and financial information. These steps include:

Monitoring Financial Transactions

Customers are urged to regularly monitor their financial transactions and statements for any unauthorized activities.

Obtaining a Free Credit Report

Cadence Bank recommends that customers obtain a free credit report through AnnualCreditReport.com or by calling 877-322-8228.

Implementing Fraud Alerts or Freezing Credit Profiles

Customers are advised to consider implementing fraud alerts or freezing their credit profiles with major credit bureaus such as Equifax, Experian, and TransUnion.

Being Vigilant Against Scams

The bank also warns its customers to remain vigilant against potential phishing, vishing, and smishing attempts. Information on how to recognize such deceptive techniques can be found at BanksNeverAskThat.com.

Additional Resources

Cadence Bank's Fraud and Security Center provides additional resources for safeguarding personal and financial data. Customers with questions about the cybersecurity event can contact the bank at 888-861-7440. For account-related inquiries, the customer service hotline is 888-797-7711.

Conclusion

The cybersecurity breach at Cadence Bank serves as a stark reminder of the vulnerabilities that even well-established financial institutions can face. While the bank has taken immediate steps to mitigate the impact of the breach, customers must also take proactive measures to protect their sensitive information. As the investigation continues, it will be crucial for Cadence Bank to provide timely updates to its customers and take all necessary steps to prevent future breaches.

Note: This article is based on the information available at the time of writing and may be subject to updates.