After the Banco Santander hack: What cybercriminals are capable of

Santander Bank’s Cybersecurity Breach: What You Need to Know About Vishing and Smishing Risks

Santander Bank has recently reported a breach in one of its providers’ databases, which could lead to the theft of customer information. Cybercriminals may use this data to launch vishing or smishing campaigns. The bank has stated that only locations in Spain, Chile, and Uruguay have been affected by the breach, including both current and former employees.

According to the director of the BeDisruptive Security Operations Center, malicious actors may have exploited a vulnerability in the database provider to escalate privileges and steal customer information. While no transactional or banking access credentials are at risk, cybercriminals could use the stolen data to conduct fraudulent activities.

Vishing is a form of telephone fraud where scammers impersonate trusted individuals to extract sensitive information from victims, while smishing involves sending fake messages to trick recipients into providing confidential data. Both scams fall under the umbrella of “fake agent” fraud and could target customers affected by the breach. Santander Bank is expected to notify affected customers about the breach and advise them on potential risks via email.

In response to the breach, Santander Bank is implementing security measures such as awareness notifications and pop-up ads in its app or website to enhance authentication factors. Customers who suspect they may be targets of the breach are encouraged to contact the bank and the National Cybersecurity Institute to report it. The Organization of Consumers and Users has urged Santander Bank to provide personal notifications to all affected clients so they can be informed about stolen information and associated risks.

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