A misconfigured Web server at the nation’s largest bond insurer exposed sensitive data for the Louisiana Asset Management Pool, which helps local governments manage their money, and countless other customers, according to a website that tracks computer security issues.
However, Theodore C. Sanders III, chief executive officer of Louisiana Asset Management Pool, said Wednesday that no unauthorized transactions have been processed and LAMP is continuing to review all transactions.
“We are in complete control of the assets of the LAMP pool through our custodian, JPMorgan Chase,” Sanders said.
On Monday, KrebsOnSecurity notified MBIA Inc. of a server problem at MBIA’s Cutwater Assets subsidiary, an investment adviser with about $23 billion under management. Cutwater’s clients include state and local governments, pension funds, unions and insurance companies.
KrebsOnSecurity reported that sensitive data stored on the server had already been indexed by Google, including account and routing numbers, balances, dividends and account holder names for Louisiana Asset Management Pool and similar investment funds from Texas, New Hampshire and Connecticut. The misconfigured server also exposed a diagnostics page that included the username and password to access almost all of the customer account data on the server, potentially exposing hundreds of millions in taxpayer funds.
MBIA told The Wall Street Journal Tuesday that the Cutwater server “may have been illegally accessed.”
Louisiana Asset Management Pool’s website says it enables local officials to collectively invest funds so clients can benefit from lower fees and competitive yields. LAMP clients can tap “the same level of investment management” available only to large institutional investors.
The LAMP website’s most recent list of participants is from 2012. However, those participants include the assessors in the parishes of East Baton Rouge, Orleans, Livingston and Lafayette, among others; the clerks of court for Livingston, St. Tammany and East Feliciana; and a number of municipalities, including Baton Rouge, New Orleans, Gonzales, Gretna, Central, Covington, Livingston, Opelousas and St. Francisville.