Credit union operations restored after tech supplier ransomware attack

The federal agency that oversees credit unions said operations at about 60 of the organizations have been restored following a ransomware attack last month.
Ongoing Operations, a cloud services provider owned by credit union technology firm Trellance, revealed earlier this month that a ransomware attack was the cause of widespread outages reported by several credit unions.
An Ongoing Operations spokesperson declined to answer several questions about the incident, instead directing Recorded Future News to a statement the company published on December 7.
The cyberattack was discovered on November 26 and Ongoing Operations immediately reported the incident to federal law enforcement agencies - something Adamoli confirmed.
All impacted customers were notified of the incident and any who were not contacted were not affected by the attack, the company claimed.
One of the credit unions affected - Peru, New York-based Mountain Valley Federal Credit Union - published a notice to its customers on Sunday confirming that services had been restored late on Saturday night.
No ransomware gang has taken credit for the attack on Ongoing Operations.
The NCUA warned in August that it was seeing an increase in cyberattacks against credit unions, credit union service organizations, and other third-party vendors supplying financial services products.
On Tuesday, the Lorenz ransomware gang took credit for an attack on Bayer Heritage Federal Credit Union, which confirmed it was attacked on November 1.
The attack brought down the credit union's systems and phone lines, forcing them to operate most services manually in person.
Phone service was restored by November 15 and the credit union said late fees on payments would be waived.
Jonathan has worked across the globe as a journalist since 2014.
Before moving back to New York City, he worked for news outlets in South Africa, Jordan and Cambodia.
He previously covered cybersecurity at ZDNet and TechRepublic.

This Cyber News was published on therecord.media. Publication date: Tue, 12 Dec 2023 21:45:46 +0000