The fallout from a recent, high-profile hack of a Gotham real estate finance vendor may affect two mutual fund firms.

J.P. Morgan and Morgan Stanley are two of the banks potentially exposed by the recent data breach at SitusAMC, according to reports from multiple publications, including Bloomberg, Reuters, and Seeking Alpha, among others. The SitusAMC publicly revealed the cybersecurity incident on Saturday (November 22), 10 days after they flagged it.

A Morgan Stanley spokesperson was not immediately able to comment on the SitusAMC breach or on what impact, if any, it could have on Morgan Stanley Investment Management. A J.P. Morgan spokesperson declined to comment on the breach or on what impact, if any, it could have on J.P. Morgan Asset Management (JPMAM).

The SitusAMC team reveals that the recent breach affected accounting records and legal agreements.

"Upon learning of the incident, we took prompt steps to investigate the nature and scope of the incident with the assistance of leading, third-party experts. We also notified and began cooperating with law enforcement. Additional hardening measures since the incident include, among others, implementing credential resets, disabling remote access tools, updating certain firewall rules, and enhancing certain security settings," writes the SitusAMC team in an FAQs section related to the cybersecurity event. "The scope, nature and extent of such impact remains under investigation by the Company and its third-party advisors." 

Edited by: Selma Khenissi, Reporter


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