Patelco's security update includes a new encryption protocol to protect member data.
As of January 2022, Patelco has implemented this update to safeguard member information.
Suggestion: What Happened at Patelco Credit Union
Patelco Credit Union Security Update
Patelco Credit Union has been affected by a ransomware attack, which was first reported on June 29, 2024. The company is working with cybersecurity experts to investigate and contain the attack.
The attack has impacted various services, including online banking, mobile app, and outgoing wire transfers. Patelco customers can still perform cash withdrawals and deposits using ATMs and shared branch ATMs.
The stolen data includes customers' full names, Social Security Numbers, driver's license numbers, dates of birth, and email addresses. This information can be used to mount identity theft, phishing, or wire fraud.
Patelco has offered two years of free identity and credit monitoring services to minimize the damage. The company initially reported that 726,000 customers had been impacted, but later updated the number to 1,009,472 people.
The ransomware group, RansomHub, claimed responsibility for the attack and published the stolen data on its extortion portal. The company's management has been criticized for not caring about the privacy of customers.
Check this out: Patelco Bank News
Impact and Affected Members
Over 1 million people were impacted by the Patelco Credit Union data breach, including 726,000 customers and employees initially reported by the company.
The data breach included personal information such as first and last name, Social Security number, driver's license number, date of birth, and/or email address.
Patelco Credit Union is offering two years of free identity protection services to affected members, but the company doesn't reveal who was behind the ransomware attack.
The ransomware gang, RansomHub, added Patelco Credit Union to its Tor leak site in August, claiming to have stolen sensitive data from the company's network.
The stolen data included user's full names, Social Security Numbers (SSN), driver's license numbers, dates of birth, and email addresses, which is more than enough intel to mount identity theft, phishing, or wire fraud.
Patelco Credit Union has confirmed that the ransomware attack led to the loss of sensitive data on hundreds of thousands of customers.
For more insights, see: Credit Union Secured Credit Card
Frequently Asked Questions
What is the issue with Patelco banking?
Patelco's online and mobile banking systems were shut down due to a ransomware breach on May 23, and it took them until July 13 to restore them.
Why is the Patelco system down?
Our system is down due to a ransomware attack that occurred on June 29, 2024, which required us to shut down some banking systems to contain and remediate the issue.
When did Patelco get hacked?
Patelco was hacked on May 23, when ransomware hackers breached their systems. The breach was later disclosed in August.
Sources
- https://securityaffairs.com/165152/hacking/patelco-credit-union-ransomware-attack.html
- https://www.cutimes.com/2024/10/01/more-than-a-million-people-affected-by-patelco-credit-unions-data-breach/
- https://www.techradar.com/pro/security/patelco-confirms-thousands-of-customers-hit-in-ransomware-attack
- https://securityaffairs.com/169139/cyber-crime/patelco-credit-union-data-breach.html
- https://tribune.com.pk/story/2475861/us-patelco-credit-union-limits-transactions-after-security-breach
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