AI is no longer merely writing phishing emails. It is probing networks, exploiting access and directing intrusions at scale. As investigations expose both malicious agents and runaway security tools, businesses face a defining question: who controls the software acting on their behalf in real time?
IBM survived Washington and still lost the layer that mattered. Wall Street now fears the same fate for AI: the Nasdaq in correction, Seoul halting trades, CoreWeave’s default insurance at a record. Congress may not stop the race. Whoever controls the power, chips and credit may decide it instead.
Wall Street’s post-election relief gave way to a sharp AI sell-off last night, as investors weighed construction delays, borrowing costs and political scrutiny. With chipmakers leading the losses, the question is becoming more urgent: which businesses can afford to wait for the promised returns?
A significant cyberattack on real estate finance vendor SitusAMC has compromised corporate and customer data, impacting major US banks including JPMorgan Chase, Citi, and Morgan Stanley. The FBI is now investigating the breach, which affects the sensitive data of residential mortgage holders.
Cyber News Centre's cyber update for 24th November 2025: SitusAMC, a critical technology vendor for the real estate finance industry, has confirmed a significant data breach that has prompted an FBI investigation and sent major US banks scrambling to assess the impact on their customers.
SitusAMC is a leading provider of technology and services for the commercial and residential real estate finance industry. The company is trusted by hundreds of lenders and investors, including top-tier banks, to support the entire lifecycle of their real estate activities, from origination and valuation to servicing and asset management.
Update: SitusAMC confirmed on November 22 that it detected a cyberattack on November 12, which resulted in the compromise of corporate and client data. The company stated that accounting records, legal agreements, and data related to its clients' customers, specifically residential loan mortgages, were impacted. While the full extent is still under investigation, the breach did not involve ransomware. In a statement, SitusAMC CEO Michael Franco confirmed the incident is contained and that the company notified federal law enforcement. The FBI is now actively investigating the matter as major financial institutions, including JPMorgan Chase, Citi, and Morgan Stanley, work to determine the scope of exposure for their customers. The breach highlights the significant downstream risk posed by third-party vendors that are deeply integrated into the financial system, processing vast amounts of sensitive personal and financial information for the nation's largest banks.
Why it Matters: This incident is a stark reminder of the systemic risk embedded in the global financial supply chain. A single breach at a critical, but lesser-known, vendor can have cascading consequences for the world's largest banks and their millions of customers. The exposure of residential mortgage data creates a significant threat of targeted fraud, identity theft, and sophisticated phishing campaigns against homeowners. For Australia, whose financial and real estate markets are deeply intertwined with the US system, this event serves as a critical alert. It demonstrates how a compromise in a US-based vendor can create ripple effects, potentially impacting Australian homeowners and financial institutions.
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AI is no longer merely writing phishing emails. It is probing networks, exploiting access and directing intrusions at scale. As investigations expose both malicious agents and runaway security tools, businesses face a defining question: who controls the software acting on their behalf in real time?
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AI is finding flaws faster than defenders can patch them, while autonomous agents push past human instructions. From exposed government systems to an Anthropic model that ignored stop signs, the question is who can halt the machine—and who pays when it acts without permission or moves the money.
OpenAI flew its chief strategy officer to Sydney to apologise for a rogue AI agent's Medicare breach. The hack was clumsy. The silence that followed was worse, and Parliament now has to decide whether sorry is the only accountability on offer.
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