TransUnion

2022 - 3 - 22

SA banks fear uptick in ID theft after TransUnion hack (ITWeb)

Sabric co-ordinates with banks to ensure South Africans' personal information is not abused by the TransUnion hackers.

Fraud is a fraudster’s business and they often use the same business tactics we use in legitimate business, the difference being that they don’t have customers, they have victims. In a separate incident, Debt-IN Consultants, a professional debt recovery solutions partner to many South African financial services institutions, announced on 22 September that a ransomware attack by cyber criminals resulted in a significant data breach of consumer and employee personal information,” says the organisation. The impacts of this are catastrophic,” says Deale. It is critical that consumers act now before significant fraud is unknowingly committed on their behalf. As we continuously move towards the adoption of a digital and more importantly ‘touchless’ era, the platform for fraud increases. “How significant is the risk?

KATE THOMPSON DAVY: TransUnion hack is a real test for privacy ... (Business Day)

There are different versions of events while the information regulator waits in the wings with a ruler.

The group claiming responsibility for the breach goes by N4ughtySec, but you may see this reported as N4ughtySecTU in some stories. I assume the addition of the last two letters relates specifically to TransUnion, which uses TU in its branding. A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Sabric engages TransUnion to help secure customer details - IT ... (IT-Online)

Nischal Mewalall, chief executive of the South African Banking Risk Information Centre (Sabric), comments: “SABRIC has already engaged TransUnion South Africa ...

Rather use other personal information that you have not used previously to confirm your identity in future. * Do not use the information that may have been compromised. He points out that the compromise of personal information does not guarantee access to a customer’s banking profile or account, but that criminals can use this information to impersonate people or trick them into disclosing their confidential banking details.

TransUnion South Africa hacked; attackers say password was ... (American Banker)

The cybercriminal group N4ughtySecTU claimed to have stolen 54 million personal records from the credit bureau and demanded $15 million.

It also said the extortion demand “will not be paid.” The hackers told ITWeb they accessed 54 million personal records and demanded $15 million in exchange for a guarantee they would not publish the records. TransUnion said “the incident impacted an isolated server holding limited data from our South African business.” It said it believes the 54 million records relate to a 2017 data incident “unrelated to TransUnion,” but the company did not specify what incident or whether 54 million records were leaked in the recent incident.

Information regulator gives Transunion deadline to notify clients ... (Jacaranda FM)

TransUnion has been given until the end of business today to submit a report to the Information Regulator on how it plans on notifying the millions of South ...

“Because in turn, that can cause malicious damage to the people, whether it can be financial distress, et cetera. So that is one of our concerns as the regulator that generally we should all be worried about cyberattacks that currently has been looming the country." "The people that own the data, the personal information we feel that they hadn't been adequately notified about the data that has been breached.

Asisa warns investors about an increase in criminal cyber activity (Independent Online)

The Association for Savings and Investment South Africa (Asisa) has warned policyholders and investors to expect a rise in phishing and approaches from ...

He said no company would ever request a client to share passwords or one-time PIN codes telephonically, via text message or email. Certain parts of its online services taken offline had since resumed, the firm said. Another is the South African Banking Risk Information Centre (SABRIC). Asisa and SABRIC signed a Memorandum of Understanding last year to collaborate on combating financial and cybercrimes and to strengthen cyber resilience in the financial services sector.