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Momentum Metropolitan reveals they were hit by a cyberattack

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Momentum Metropolitan reveals they were hit by a cyberattack 2

Momentum Metropolitan has revealed that there has been a data breach with one of its subsidiaries last week. The financial services group revealed the news late last week, confirming that a cyberattack took place on Thursday 13th August, 220, though didn’t reveal exactly which one of its subsidiaries, which includes a variety of asset management and insurance companies like Metropolitan Life and Momentum, was affected by the breach (as reported by My Broadband).

Momentum Metropolitan hereby informs stakeholders that a third party unlawfully accessed a limited portion of data of a subsidiary of the Group. The Group became aware of a data breach on its network on Thursday 13 August 2020 and immediately activated its IT security incident plan, which included the implementation of additional systems monitoring and the reinforcement of its IT security.

The hackers gained access to administrative and financial data, though the company claims that no customer data was impacted by the breach. It’s not clear exactly what or who has been affected by this breach, given Momentum Metropolitan’s reluctance to reveal which one of its companies were affected. However, if you are a customer, you will likely get some form of notification on the details once the company is ready to divulge them. Hopefully, with customer information not impacted, the likely fallout from the breach will not be too significant.

With many international companies suffering from increased attacks during the COVID-19 pandemic, we can only expect more attempts to be made at other South African companies as well, if they discover more paths of entry.

Last Updated: August 17, 2020

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