A ransomware attack has disrupted the operations of Patelco Credit Union, a California-based nonprofit cooperative with over 450,000 members. The attack, which occurred on June 29, has led to the shutdown of several banking services. Patelco CEO Erin Mendez acknowledged in a July 1 message that the incident’s repercussions could persist for weeks.
Patelco has been regularly updating its members through this page, revealing that transactions, transfers, payments, and deposits are currently unavailable. Additionally, debit and credit card functions are operational but limited.
The credit union, which boasts $9 billion in assets and 37 branches in Northern California, is collaborating with third-party cybersecurity experts and cooperating with regulators and law enforcement to restore its systems safely and securely.
The attack has caused significant frustration among members. Enrique Juarez, a Patelco user, expressed his inability to access his Social Security payment, which he described to the Mercury News as a highly unusual situation.
The institution has not disclosed how it will mitigate the ransomware but has stated that any affected individuals will be notified in accordance with applicable laws. Security expert Ahmed Banafa suggested that the ransomware likely infiltrated internal databases through a phishing email.
In response to the ongoing issues, Patelco is waiving overdraft, late payment, and ATM fees. The credit union also warned members of potential intermittent outages at Patelco ATMs during the recovery process, although access to shared ATMs will remain uninterrupted.
For further details, visit the original article on Ars Technica.