What the TransUnion hack could mean for your business

March 26, 2022

Cybercrimes to cost the globe $10.5 Trillion annually by 2025, this is according to a Special Report: Cyberwarfare in the C-Suite. Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.

Last week on the news we saw a hacker group, going by the name N4ughtysecTU, breached TransUnion and accessed 54 million personal records of South Africans. The group claiming responsibility for the hack, is demanding a R224 million from TransUnion for over four terabytes of data they are threatening to leak.

Why we should be worried

N4aughtySecTU has already leaked a Cell C customer database and the African National Congress (ANC) member database. As a consumer credit reporting agency, TransUnion hold and store the personal records of 54 million South Africans – which N4aughtySecTU are threatening to leak online if their demands aren’t met.

The information that the group claims to now be in control of includes credit scores, banking details and ID numbers. This is disastrous for South African’s as it means that their personal information can be sold off to the highest bidder, which could lead to issues like identity theft and fraud.

How did this happen?

Now, we know this sounds like a joke, but it is reportedly true – The N4aughtySecTU group claimed the credit bureau was using the word “password” as its password.

While no organisation is immune from cyber-attacks, having the extra layers of protection necessary to keep your customers’ private data safe is imperative to every business, no matter the size. For this reason, we offer:

Leading Online Protection

Keep your business’ private data secure with our cyber security Firewall partner – FortiGate. In this day and age, having a cyber security partner is vitally important for your business, not only for longevity and survival but also for the peace of mind it provides your customers with.

With a FortiGate firewall, you can provide safe remote access should the need arise, secure internal resources, enforce business policies that keep online safety at the centre of their ethos, and most importantly secure company data.

Backup and Disaster Recovery
If your business stores your vital customer and in-house data in a cloud environment, you need a backup and disaster recovery partner that’s trusted by organisations globally.

RSAWEB has chosen Veeam as its preferred data backup and recovery software partner. Veeam software enables RSAWEB to deliver multi-platform (Physical and Virtual) and multi-cloud backup and disaster recovery solutions. With the help of Veeam software, RSAWEB offers solutions that are easy to operate and scale, whilst ensuring compliance, best practice and reliability.

Backup

Planning for tomorrow can save you a lot of time and money which is why our backup solution hosted in RSAWEB’s two regional availability zones (South Africa – North and South) will give you peace of mind in ensuring all your physical or virtual machine data is secure and accessible. Our two availability zones also enable you to create and store backup data in terms of the “3-2 1″/GFS rules of best practice.

Disaster Recovery

It’s all in the name: disaster – which is exactly the kind of situation that can arise within any business at any time, and all you can be is prepared to make sure it doesn’t cause irreversible damage to your business. Our disaster recovery solution can mitigate these perilous events through an RSAWEB Cloud strategy that’s fully integrated, affordable and efficient.

If you are looking to equip your business with security solutions that will help mitigate the risk of cyber-attacks, as well as keep your customers and your business’s vital data safe and protected – give us a call on 087 470 0000 and chat to one of our enterprise security experts.

What the TransUnion hack could mean for your business

KEEP UP TO DATE WITH OUR LATEST NEWS