Security News > 2024 > July > Patelco shuts down banking systems following ransomware attack
Patelco Credit Union has disclosed it experienced a ransomware attack that led to the proactive shutdown of several of its customer-facing banking systems to contain the incident's impact.
Patelco is an American credit union with assets exceeding $9 billion.
In a status update about service outages that started on June 29, 2024, Patelco said it experienced a ransomware attack that day.
At the time of writing, no ransomware groups have claimed responsibility for the attack at Patelco, so the perpetrators remain unknown.
Ransomware attacks typically also involve data theft to be used in the extortion phase, which could involve sensitive personal and financial information on hundreds of thousands of Patelco members.
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