Brazilian financial entities affected by cyberattack against tech provider

Reuters reports that half a dozen Brazilian financial institutions, including BMP, had their reserve accounts compromised following a cyberattack against technology services provider C&M Software.

Threat actors behind the intrusion had leveraged breached client credentials to infiltrate C&M's systems and services, according to C&M Commercial Director Kamal Zogheib, who noted that an investigation into the incident alongside Brazil's central bank and the Sao Paulo state police is already underway. Identification of unauthorized systems access has prompted C&M to immediately shut down infrastructure for financial entities, as well as activate security protocols. All critical systems remain operational, noted C&M. Potential losses due to the intrusion have been downplayed by an official close to the probe, who noted that the tech provider only caters to almost 24 minor financial entities. Organizations served by C&M were also said by another source to have not incurred any losses as a result of the attack.