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Venture Credit Union Co-Operative Society Limited has been the target of a cyberattack, potentially leading to thousands of its customers’ personal data being leaked to the dark web.
A Russian-oriented cybercrime organisation known as Qilin is reported to be behind the attack.
According to Venture Credit Union, the ransomware attack took place on July 18.
But one Venture executive is urging customers not to worry, as he assured yesterday that their core banking information was not breached.
However, one cybersecurity expert says that’s not true.
Daren Dhoray told Guardian Media that customers’ national identification cards, utility bills and other personal information are still on the dark web.
He said even more troubling was the fact that customers were only informed of the breach yesterday, after reports of the attack began circulating on social media earlier in the day.
Dhoray said, “If it was successfully recovered, then member data would not be on the dark web. So to me, that’s a concern. It was not issued before when they claimed that the breach was, which was July 18, and one may infer that only because we made it public on social media today (Wednesday) that the information was shared to their members,” he said.
“So, the concerning issue here is, one, for their members to at least be a bit more cognisant of potential identity theft or phishing activities that might happen, because consider this, your national ID utility bill, which will have your address, is now available to any nefarious individual to use at their desire.”
Venture Credit Union now joins other organisations, such as TSTT, the National Insurance Board (NIB), Massy Group and ANSA McAL, which have been attacked by hackers within the last five years.
Dhoray is now encouraging customers to be on the alert, while telling organisations they should also be more transparent with their membership when these attacks occur.
Dhoray said, “They (customers) would have probably noticed any financial issues on their account by now, even though the credit union has claimed that that is not the case and we can only go with what they say. But, I would still recommend that the membership be very aware, monitor their account a little bit more, be a little bit more diligent than usual, and at least some reassurance that this is no indictment on the credit union.”
He added, “Even the largest firms become prey to cybercriminals. It will happen almost to any institution, so transparency and expediency with respect to reporting it from the bodies like the credit unions to the membership, is what we would like to see happen and hopefully, none of their members would actually do any sort of harm.”
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