FHLB New York detects fraudulent fund attempt via compromised fourth-party vendor; no funds lost

Federal Home Loan Bank of New York

On Feb 21, 2024, the Bank detected unknown persons attempting to fraudulently obtain funds through a compromised fourth-party vendor.
Bank's own IT systems were not compromised; no unauthorized transactions executed and no funds transferred.
Bank members continued to execute transactions without interruption.
Incident has not had a material impact on operations; Bank believes no material impact on financial condition or results.
Prompt containment and remediation steps were taken upon detection.

Key facts

Extracted from this filing and checked against the source text.

Cybersecurity Incidents SEC 8-K Item 1.05 confidence 0.9

Federal Home Loan Bank of New York disclosed a cybersecurity incident: unknown persons attempted to fraudulently obtain funds from the Bank due to a fourth-party vendor compromise. Impact: no unauthorized transactions executed, no monies transferred, Bank members able to continue transactions, no material impact on operations or financial condition. Company determined it not material. Discovered 2024-02-21.

Nature: unknown persons attempted to fraudulently obtain funds from the Bank due to a fourth-party vendor compromise
Impact: no unauthorized transactions executed, no monies transferred, Bank members able to continue transactions, no material impact on operations or financial condition
Materiality: not material
Discovery: 2024-02-21

Exact text from the filing

On February 21, 2024, the Federal Home Loan Bank of New York (“Bank”), through its operational controls, detected unknown persons attempting to fraudulently obtain funds from the Bank (the “incident”).

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2 cybersecurity incidents filed in the last 30 days. Browse all cybersecurity incidents →

Source: SEC EDGAR

accession 0001654954-24-002505

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