No end in sight to Patelco Credit Union security attack

Lucy Flores attempts to check her balance at a Patelco ATM on Kala Bagai Way in downtown Berkeley, Calif., on Monday, July 1, 2024. “It makes me nervous not to be able to see what’s coming through my account,” Flores said. ​​DUBLIN – Four days after a ransomware attack crippled its systems, Patelco Credit Union remained unable to tell its members when banking operations would return to normal.

Enrique Juarez, one of the credit union’s estimated 500,000 members, visited the Story Road branch in San Jose to ask about his social security check, which bounced and is his only source of income since retiring in January. A banker told him to check with the federal agency, he said Tuesday. “The hackers, what they do usually, they ask for cryptocurrency, they ask for payment. That’s why it’s called ransomware,” Banafa said.

“This kind of information, hackers can take this information and sell it on the dark web and they can use it,” Banafa said, referring to illegal online servers selling contraband and other illegal services. Patelco created a dedicated website Monday to update customers on the security breach, with another message from CEO Erin Mendez. Mendez wrote that they continue working with “third party cybersecurity experts” to restore Patelco functions, and that they have been cooperating with law enforcement authorities.

Banafa said the fact whoever executed this attack chose the beginning of a new month and an upcoming bank holiday to strike was quite intentional, too.

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