Cloud Security, Ransomware

60 credit unions knocked offline temporarily by third-party ransomware attack

Outages have been experienced by nearly 60 credit unions across the U.S. following a ransomware attack against credit union technology firm Trellance-owned cloud services provider Ongoing Operations on Nov. 26, reports The Record, a news site by cybersecurity firm Recorded Future. Investigation into the attack is underway but Ongoing Operations emphasized that there has been no evidence indicating any data misuse. Meanwhile, the National Credit Union Administration also noted that coordination with impacted credit unions is ongoing. New York-based Mountain Valley Federal Credit Union was among the organizations significantly impacted by outages stemming from the Trellance attack, which also affected credit union data processor FedComp. While MVFCU's member data was noted by Trellance to not have been affected by the intrusion, Trellance should leverage a new server system, according to MVFCU CEO Maggie Pope. "This is not just an MVFCU issue, it is nationwide. Trellance and FedComp have been working around the clock to get our systems along with other credit unions around the country that have experienced the same issue back online," Pope added.

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