Liberty Financial Services, Victim of Hack, Insurance Company Confirms

Liberty Financial Services an insurance company in South Africa stated on June 16 that reacting to a hacking attack against IT infrastructure of the group and theft of its data it decided against paying the hackers their demanded money. The insurance company offers health and insurance packages, asset management and investment to its subscribers.

Liberty Financial Services' chief executive officer David Munro stated that his company had engaged an experts' team for probing the hack. As known, insurance companies keep stocks of sensitive data belonging to innumerable clients. Such data include medical reports and banking information.

Munro further stated that the Liberty group continued to implement all its contracts and policies. On June 17, cyber-crooks had infiltrated one e-mail server followed with then removing certain latest messages, while probably removed certain attachments too. The CEO stated there wasn't any clue of data files of clients been accessed. Businesslive.co.za posted this, June 17, 2018.

A Standard Bank subsidiary, Liberty Financial had on June 16 confirmed it had got victimized with illegitimate intrusion into its information technology systems. The intruders aimed at forcing the group to pay up failing which they blackmailed with publishing the sensitive data they now held, on the Web.

In 2017, Standard Bank was struck with a fraud valuing several million Rands wherein theft of cash occurred with the aid of many fictitious cards swiped in different ATMs inside Japan. The bank reportedly lost an estimated R300m through the fraud.

At present no one clearly knows what volume of data got stolen while what was the number of customers who might've been impacted. According to Munro, his company understood the hack accessed latest electronic mails and attachments saved with the insurance business of Liberty within South Africa.

Moreover, ever-since getting to know about the breach into its data and security, Liberty took instant measures towards securing its PCs while started a probe into the happening.

As per the insurer's report, hackers had acquired confidential information on top clients. Incase the insurance company didn't comply with the hackers' demand for millions, the latter would begin publishing the data in their position, publicly, the report stated.

» SPAMfighter News - 6/25/2018