A significant data breach at a federal credit union has put the personal information of 240,000 members at risk.

More than 240,000 individuals were affected by a significant data breach at SRP Federal Credit Union, a financial institution located in South Carolina.

Hundreds of thousands of Americans' highly sensitive information has been stolen by cybercriminals, and it is now in the possession of the credit union.

The data breach, which was revealed by SRP in a notice, was a two-month attack by hackers, raising concerns about how long it took the company to detect unauthorized entry into its systems. I provide information on the details of the data breach, its effects on individuals, and steps you can take to protect yourself.

What you need to know

Over 240,000 individuals' personal information was exposed in a data breach reported by SRP Federal Credit Union, as stated in documents filed with regulators in Maine and Texas on Friday.

The credit union's systems were accessed by hackers between Sept. 5 and Nov. 4, potentially exposing sensitive files. The investigation into the matter concluded on Nov. 22, according to the company.

The cyberattack exposed names and government-issued identification, but SRP did not provide specific details in its notice to Maine regulators.

In a filing with Texas regulators, the company stated that names, Social Security numbers, driver's license numbers, dates of birth, and financial information, including account numbers and credit or debit card numbers, were compromised. However, SRP clarified that the breach did not affect its online banking or core processing systems.

Who’s responsible for the breach

The ransomware group Nitrogen claimed responsibility for the attack on SRP, alleging it had stolen 650 GB of customer data. Ransomware attacks use malicious software to block access to a victim's files, systems or networks and demand payment to restore access.

A potential class-action lawsuit may be filed against the credit union due to the data breach, as Murphy Law Firm in Oklahoma City is currently investigating claims on behalf of individuals whose personal information was exposed.

To safeguard your information, utilize the free-of-charge identity theft protection services that SRP offers to impacted individuals.

We attempted to contact SRP for a comment but did not receive a response before our deadline.

7 ways you can protect yourself from SRP data breach

If you have received a notice from SRP Federal Credit Union about a data breach, take the following steps to safeguard yourself.

Keep track of your finances: Regularly review your bank statements, credit card activity, and other financial accounts for any unauthorized transactions or suspicious behavior. Contact one of the three major credit bureaus (Equifax, Experian, or TransUnion) to place a fraud alert on your credit report, which will make it more difficult for identity thieves to open accounts in your name.

Consider freezing your credit to prevent unauthorized account openings. This free service can be lifted at any time.

Enroll in identity theft protection services to safeguard your personal information and receive timely alerts of potential threats. These services can help you detect and respond to identity theft promptly. Some identity theft protection services also offer insurance and assistance with recovering from identity theft, providing extra security. Check out my recommendations on how to safeguard yourself from identity theft.

Update your online passwords, especially those related to banking and email, with strong, unique passwords. Consider using a password manager to generate and store complex passwords, and enable two-factor authentication for added security.

Be cautious of emails, texts or calls claiming to be from SRP or related organizations and avoid clicking on links or providing personal information unless you verify the sender.

To ensure your safety from malicious links, install antivirus software on all your devices. This software not only protects against viruses but also alerts you to phishing emails and ransomware scams, safeguarding your personal information and digital assets. Here are my top picks for the best 2024 antivirus protection for Windows, Mac, Android, and iOS devices.

Ensure that your devices receive timely operating system updates automatically to protect against new vulnerabilities exploited by hackers. For guidance on how to keep all your devices updated, refer to my guide.

Consider using data removal services to reduce the risk of your personal information being exploited in cyberattacks after a breach. Here are my top picks for such services.

Kurt’s key takeaway

The SRP Federal Credit Union data breach serves as a stark reminder of the vulnerability of our personal information. Over 240,000 individuals had their sensitive data compromised, including Social Security numbers, driver's licenses, and financial details. The fact that hackers had a two-month window to exploit the credit union's systems before being detected underscores the need for stronger cybersecurity protocols. As an SRP customer, it's crucial to monitor your accounts closely, enable fraud alerts, and consider identity theft protection services to safeguard yourself from potential threats.

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