Massive data breach at federal credit union exposes 240,000 members
SRP Federal Credit Union, a South Carolina-based financial institution, recently experienced a major data breach that has impacted more than 240,000 individuals. The credit union, which handles highly sensitive information for hundreds of thousands of Americans, fell victim to a cyberattack that resulted in the unauthorized access of their systems by hackers over a two-month period.
The breach was discovered after SRP noticed suspicious activity on its network and promptly notified law enforcement. An investigation revealed that hackers had gained access to the credit union’s systems between September 5 and November 4, potentially compromising sensitive files. The breach was not detected until November 22, raising concerns about the company’s cybersecurity measures and detection protocols.
While SRP did not disclose specific details of the compromised information in its notice to regulators, a filing with Texas regulators revealed that names, Social Security numbers, driver’s license numbers, dates of birth, and financial information such as account numbers and credit or debit card numbers were affected. The company reassured customers that its online banking and core processing systems were not impacted by the breach.
The responsible party behind the attack has not been disclosed, but ransomware group Nitrogen has claimed responsibility for stealing 650 GB of customer data. This type of attack uses malicious software to block access to a victim’s files and systems until a ransom is paid.
Following the breach, SRP could face legal challenges, with Oklahoma City-based Murphy Law Firm investigating claims on behalf of affected individuals and potentially pursuing a class-action lawsuit. SRP has pledged to provide impacted individuals with free identity theft protection services to help safeguard their information.
To protect yourself from the SRP data breach, consider monitoring your accounts for unauthorized activity, freezing your credit, enrolling in identity theft protection services, updating your passwords, being cautious of phishing scams, keeping your device’s operating system updated, and investing in personal data removal services. These steps can help mitigate the risk of identity theft and financial fraud.
The SRP Federal Credit Union data breach serves as a stark reminder of the vulnerability of personal information in the digital age. It underscores the importance of robust cybersecurity measures and proactive steps to protect sensitive data from cyber threats. If you are an SRP customer, it is crucial to remain vigilant and take necessary precautions to safeguard your information in the aftermath of this breach.
