2020-10-26 FIRST BANCORP /PR/ Cybersecurity Incident

Page last updated on April 11, 2024

FIRST BANCORP /PR/ initially disclosed a cybersecurity incident in an SEC 8-K filing on 2020-10-26 16:58:35 EDT.

Incident Details

Material: Unknown
Is Breach: Unknown
Records Compromised: Unknown
Data Types Impacted: No Data Types Tracked (yet)

Compromised Date:
Detected Date: 2020-10-23
Disclosure Date: 2020-10-26
Contained Date:
Recovered Date:

Attack Goal: Unknown

Costs: No Costs Tracked (yet)

Filings

8-K filed on 2020-10-26

FIRST BANCORP /PR/ filed an 8-K at 2020-10-26 16:58:35 EDT
Accession Number: 0001140361-20-023788

Item 7.01 Regulation FD Disclosure.

On October 23, 2020, First BanCorp. (the “Corporation”)(NYSE: FBP), the bank holding company for FirstBank Puerto Rico (the “Bank”), detected an alert in its technology infrastructure signaling a cybersecurity incident affecting certain service channels. Immediately upon the detection of the incident, the Corporation activated security protocols and took preventive actions to protect its information and that of its customers, including by limiting certain bank services. Furthermore, the Corporation notified law enforcement and applicable regulatory bodies, launched an investigation, and engaged the services of leading cyber defense firms and professionals.

Although the incident and preventive measures taken impacted certain service delivery channels, the incident did not impact the Bank’s mainframe or core applications environment. As of the date hereof, the Corporation has brought back on line several of its operational and business systems. The Corporation is in the early stages of assessing the incident. Based on the information currently known, the Corporation does not expect the incident to have a material impact on its business, operations or financial condition. At the time of this filing, there is no evidence of misuse of customer data. The Corporation carries insurance, including cyber insurance, which it believes will reduce any potential financial impact.

Company Information