Security

Patelco Credit Union Ransomware Attack Shuts Down Its Systems

Written by Lore Apostol
Published on July 3, 2024

Patelco, an American not-for-profit credit union, was hit by a ransomware attack on June 29. As a precaution during the investigation, the union disabled the functionality of online banking, the mobile app, outgoing wire and Zelle transfers, online bill pay, balance inquiries, and monthly statements.

Services such as call center, live chat, debit and credit card transactions, and direct deposits have limited functionality, while check and cash deposits and external ACH and ACH for bills are working normally.

The San Francisco Union employed the help of a third-party cybersecurity forensic firm for this investigation. The member-owned credit union says Patelco account balances were not affected by this security incident. 

As the investigation into the nature and scope of the incident is ongoing, it is not yet known whether sensitive details, such as names and other personally identifiable information, were exposed. Patelco announced its intent to notify potentially affected individuals and provide them with resources to protect their sensitive data.

In the latest news, American Evolve Bank & Trust’s ongoing investigation into its LockBit ransomware attack revealed that the exposed data included customer and employee details and clients of their Open Banking partners’ clients, including names, contact information, and Social Security and bank account numbers. The data breach, initially presented as belonging to the U.S. Federal Reserve, was for sale on a hacker forum before leaking. 

Ransomware attacks continue to pour in, targeting various sectors, including healthcare companies like revenue and payment cycle management provider Change Healthcare, specialty radiology practice Consulting Radiologists Ltd, and more.



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