News and Updates on Information Technology

United States – Idaho Central Credit Union

Exploit: Unauthorized data access

Idaho Central Credit Union: Financial institution

Risk to Small Business: 1.555 = Severe

The Idaho Central Credit Union has reported two data breaches that compromised personally identifiable customer information. The first incident occurred in November 2019 when a third-party mortgage portal was victimized by hackers. While investigating the first breach, cybersecurity experts identified a second incident stemming from several compromised employee email accounts. In today’s digital economy, a company’s competitive advantage is predicated on its ability to protect customer data. Two consecutive data breaches will have far-reaching repercussions for the credit union.

Individual Risk: 2.142 = Severe

In both incidents, the personally identifiable information of the bank’s customers was compromised. This included names, dates of birth, Social Security numbers, financial account information, tax identification numbers, and other sensitive financial details. Cybercriminals can redeploy this information in a host of harmful ways.Those impacted by the breach should enroll in identity and credit monitoring services as soon as possible.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Email accounts are serious vulnerabilities for every company, as there are many ways by which cybercriminals can exploit social engineering and malware to find their way in. However, every company can lock down their email accounts by implementing two-factor authentication to prevent unauthorized access, even if login credentials are compromised.

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