Liberty has disclosed a security breach

mylesillidge

mylesillidge

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Data breach at large South African insurance and investment company

Life insurer and investment provider Liberty has disclosed a security breach after an unauthorised third party gained access to its internal systems, potentially exposing the personal information of certain clients.

The financial services provider started notifying affected customers via SMS on Monday, advising them of the unauthorised access while assuring them that their investments remain secure.
 
DrJohnZoidberg

Thread 'Liberty Hacked'

Just got a message from Liberty saying they detected unauthorized access to account information.

Notice of unauthorised third-party access​

Liberty detected unauthorised third-party access to select data systems, and we immediately took steps to contain and mitigate the impact.

Our services remain unaffected, fully operational and available to all our clients, advisers and employees.

Our team, supported by experts, has launched a full investigation into this incident. We operate within a robust regulatory framework and fully comply with all applicable obligations.

We are...
Click to expand...
  • Wow
 
How about a vague clue about what information was accessed?

Just my contact details? My investment info? What exactly?

This is actually critical information for clients as it makes the difference between looking out for just more random spam or someone purporting to be representing my financial advisor that actually has policy information.
 
MrGray said:
How about a vague clue about what information was accessed?

Just my contact details? My investment info? What exactly?

This is actually critical information for clients as it makes the difference between looking out for just more random spam or someone purporting to be representing my financial advisor that actually has policy information.
Click to expand...
Either they don't know exactly (yet) or they know and it's really bad.

They need to do a full disclosure on this.
 
Smiggles said:
Not to worry POPIA and FICA will save us.
Click to expand...
Neither of those stop criminals from breaching systems - thats a job for the Cyber Crimes division. Your comment is like expecting POPIA to stop bank robbers.
 
Less than year after Netstar - so I received SMS now from 2 listed companies in less than year - if they add data together from these two alone, I suppose hackers now have almost all latest info on me -- not counting all the breaches we do not even know about.
(..... they already have every detail of every South African since long ago, I am sure somebody will say next ....)
 
With all these data breaches, should I be offended that my identify has been stolen?
 
some early reports.

Security breach puts Liberty at risk – Redstor While established insurance firm Liberty continues to throw everything it has at an investigation into the recent major data breach, the incident is a stark reminder to businesses that cyber security should be a constant priority – a company’s guard must always be up. This is the warning from global data management Software-as-a-Service specialist Redstor. While investigations are ongoing, there is speculation that the root cause of the breach was due to a strain of Ransomware which allowed hackers to extract data from systems, the company adds. Perpetrators have attempted to extort ‘compensation’ from the organisation and threatened to leak the data. On Saturday 16 June, Liberty began contacting customers to inform them of the breach stating: “Liberty regrets to inform you that it has been subjected to unauthorised access to its IT infrastructure, by an external party who requested compensation for it… we have taken immediate steps to secure our computer systems and are investigating the incident” According to Redstor, some sources claim that the breach came via an email server and that data was extracted from this - but with the alleged dataset stolen, said to be 40 terabytes, it would appear that core systems may have also been accessed. It has been reported that the Liberty Group’s share price dropped 4% in value, following the news of the breach.
 
DrJohnZoidberg said:
DrJohnZoidberg

Thread 'Liberty Hacked'

Just got a message from Liberty saying they detected unauthorized access to account information.

Notice of unauthorised third-party access​

Liberty detected unauthorised third-party access to select data systems, and we immediately took steps to contain and mitigate the impact.

Our services remain unaffected, fully operational and available to all our clients, advisers and employees.

Our team, supported by experts, has launched a full investigation into this incident. We operate within a robust regulatory framework and fully comply with all applicable obligations.

We are...
Click to expand...
  • Wow
Click to expand...
Received similar.
 
"Liberty Group’s share price dropped 4% in value, following the news of the breach."

As it should.

Basically, 100% brand faith erosion.
 
Using "investing" with Liberty as the yard stick as financial acumen, I would say that people whose details have been stolen might be easy victims for scammers...
 
magneto said:
some early reports.

Security breach puts Liberty at risk – Redstor While established insurance firm Liberty continues to throw everything it has at an investigation into the recent major data breach, the incident is a stark reminder to businesses that cyber security should be a constant priority – a company’s guard must always be up. This is the warning from global data management Software-as-a-Service specialist Redstor. While investigations are ongoing, there is speculation that the root cause of the breach was due to a strain of Ransomware which allowed hackers to extract data from systems, the company adds. Perpetrators have attempted to extort ‘compensation’ from the organisation and threatened to leak the data. On Saturday 16 June, Liberty began contacting customers to inform them of the breach stating: “Liberty regrets to inform you that it has been subjected to unauthorised access to its IT infrastructure, by an external party who requested compensation for it… we have taken immediate steps to secure our computer systems and are investigating the incident” According to Redstor, some sources claim that the breach came via an email server and that data was extracted from this - but with the alleged dataset stolen, said to be 40 terabytes, it would appear that core systems may have also been accessed. It has been reported that the Liberty Group’s share price dropped 4% in value, following the news of the breach.
Click to expand...
16 June?
 
magneto said:
some early reports.

Security breach puts Liberty at risk – Redstor While established insurance firm Liberty continues to throw everything it has at an investigation into the recent major data breach, the incident is a stark reminder to businesses that cyber security should be a constant priority – a company’s guard must always be up. This is the warning from global data management Software-as-a-Service specialist Redstor. While investigations are ongoing, there is speculation that the root cause of the breach was due to a strain of Ransomware which allowed hackers to extract data from systems, the company adds. Perpetrators have attempted to extort ‘compensation’ from the organisation and threatened to leak the data. On Saturday 16 June, Liberty began contacting customers to inform them of the breach stating: “Liberty regrets to inform you that it has been subjected to unauthorised access to its IT infrastructure, by an external party who requested compensation for it… we have taken immediate steps to secure our computer systems and are investigating the incident” According to Redstor, some sources claim that the breach came via an email server and that data was extracted from this - but with the alleged dataset stolen, said to be 40 terabytes, it would appear that core systems may have also been accessed. It has been reported that the Liberty Group’s share price dropped 4% in value, following the news of the breach.
Click to expand...

16th June?
 
freematrix said:
Can you move RA's?
Click to expand...
I moved mine from Liberty last year, the process was mainly smooth. The one problem was that Liberty had introduced a one month waiting period before doing anything, and then dragging their feet thereafter.
 
MrGray said:
How about a vague clue about what information was accessed?

Just my contact details? My investment info? What exactly?

This is actually critical information for clients as it makes the difference between looking out for just more random spam or someone purporting to be representing my financial advisor that actually has policy information.
Click to expand...
Sorry, not at liberty to say.
 
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