What We Do
How we do it
Our Threat Response Unit (TRU) publishes security advisories, blogs, reports, industry publications and webinars based on its original research and the insights driven through proactive threat hunts.
View Threat Intelligence Resources →
Mar 15, 2023
CVE-2023-23397 - Microsoft Outlook Elevation of Privilege Zero-Day Vulnerability
THE THREAT On March 14th, as part of Microsoft’s monthly Patch Tuesday release, the company disclosed a critical, actively exploited vulnerability impacting Microsoft Office and Outlook. The…
Read More
View all Advisories →
About Us
eSentire is The Authority in Managed Detection and Response Services, protecting the critical data and applications of 2000+ organizations in 80+ countries from known and unknown cyber threats. Founded in 2001, the company’s mission is to hunt, investigate and stop cyber threats before they become business disrupting events.
Read about how we got here
Leadership Work at eSentire
Mar 20, 2023
Exertis and eSentire Partner to Deliver 24/7 Multi-Signal MDR, Digital Forensics & IR Services and Exposure Management to Organisations Across the UK, Ireland, and Europe
Basingstoke, UK– 20 March, 2023. Leading technology distributor, Exertis, announced today that it has bolstered its cybersecurity services, adding eSentire, the Authority in Managed Detection and Response (MDR), to its Enterprise portfolio of offerings. eSentire’s award-winning, 24/7 multi-signal MDR, Digital Forensics & Incident Response (IR), and Exposure Management services will be available…
Read More
e3 Ecosystem
We provide sophisticated cybersecurity solutions for Managed Security Service Providers (MSSPs), Managed Service Providers (MSPs), and Value-Added Resellers (VARs). Find out why you should partner with eSentire, the Authority in Managed Detection and Response, today.
Learn more
Apply to become an e3 ecosystem partner with eSentire, the Authority in Managed Detection and Response.
Login to the Partner Portal for resources and content for current partners.
Security advisories — Mar 14, 2023

Threats Stemming from Turmoil in the Global Banking System

4 minutes read
Speak With A Security Expert Now


On Wednesday, March 8, 2023, Silicon Valley Bank (SVB) announced it sold securities in response to a liquidity crisis. This set off a chain of events where SVB clients were advised by third-party advisors to withdraw funds from SVB. These clients then attempted to withdraw their funds, causing a run on the bank. On March 12, 2023, state regulators also closed New York based Signature Bank. The current situation has stabilized with the announcement by the US Treasury & FDIC on March 12 that depositors would be fully protected.

eSentire Threat Intelligence assesses the chances are almost certain that threat actors will leverage this crisis to attempt phishing and Business Email Compromise (BEC) campaigns.

What we’re doing about it

How To Stay Safe

How Threat Actors May Abuse This

Additional information

On March 10, 2023, Silicon Valley Bank (SVB) was closed by regulators because of a liquidity crisis. The bank held many Treasuries and other government bonds; amounting to over half of its assets. As interest rates rose, those bonds became less valuable, and the bank needed to sell these assets at a loss to meet the liquidity needs of depositors. This resulted in SVB filing a press release on March 8 indicating it had sold $21 Billion in assets to raise funds. The March 8 filing resulted in SVB shares sharply declining on Thursday March 9 and is believed to have sparked panic among tech investors and company founders, who encouraged start-ups to withdraw their money. [1, 2, 3]

On March 12, 2023, state regulators also closed New York based Signature Bank. Federal Deposit Insurance Corporation (FDIC) took control of Signature, which had $110 Billion in assets and $88 Billion in deposits at the end of last year, according to New York state's Department of Financial Services.

On March 12, 2023, the U.S. Department of Treasury issued a joint statement with the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). The statement indicated that “Depositors will have access to all of their money starting Monday, March 13.” and stated that “it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.” [5]

What’s expected?

If the SVB incident impacts your business, it is likely that clients will reach out to ask what your exposure is, and where to re-direct funds to.

For those in sales teams, you should ensure that you monitor any account change notifications from your customers and carefully review each of them.

Additionally, for those in financial teams, it is worth setting up monitoring to check every receivable account change after it has been changed. Ideally, your finance platform should be able to create a daily report, which should then be reviewed by an individual that is not the person responsible for the actual changes.

Also, consider adding a policy that does not allow for the transfer of funds to accounts recently modified. This will give enough time for the vendor or the auditor to notice it before any money has been wired.

Indicators of Compromise 








[1] https://www.washingtonpost.com/business/2023/03/10/svb-collapse/
[2] https://www.bloomberg.com/news/articles/2023-03-12/us-moves-to-help-depositors-offer-bank-backstop-in-wake-of-svb?leadSource=uverify%20wall
[3] https://ir.svb.com/news-and-research/news/news-details/2023/SVB-Financial-Group-Announces-Proposed-Offerings-of-Common-Stock-and-Mandatory-Convertible-Preferred-Stock/default.aspx
[4] https://www.reuters.com/business/finance/new-york-state-regulators-close-signature-bank-2023-03-12/
[5] https://home.treasury.gov/news/press-releases/jy1337
[6] https://www.cisecurity.org/insights/white-papers/security-primer-business-email-compromise

View Most Recent Blogs