Momentum Metropolitan hacked

Admire Moyo
By Admire Moyo, ITWeb's news editor.
Johannesburg, 17 Aug 2020

Financial services provider Momentum Metropolitan has been hit by a cyber attack.

In a statement to shareholders this morning, the insurer says: “Momentum Metropolitan hereby informs stakeholders that a third-party unlawfully accessed a limited portion of data of a subsidiary of the group.”

Momentum engages in long- and short-term insurance, asset management, savings, investment and employee benefits through its various brands.

The group has subsidiaries in SA, Botswana, Ghana, Gibraltar, Guernsey, Kenya, Lesotho, Mauritius, Namibia, Nigeria, UK and Zambia.

The company says it became aware of a data breach on its network on Thursday, 13 August and immediately activated its IT security incident plan, which included the implementation of additional systems monitoring and the reinforcement of its IT security.

According to the company, the group’s IT teams have been working non-stop to ensure service to clients remains unaffected.

“In conjunction with cyber forensic partners, the group has done extensive investigations into the nature and extent of the breach,” it says.

“Based on the investigation to date, the group confirms that information accessed does not contain any client or member data.”

The insurer notes that information accessed contains administrative and financial data that is not expected to prejudice any stakeholders of the group.

The group has alerted the authorities and investigations are ongoing, says the company.

The Momentum hack comes as a number of South African organisations have fallen prey to cyber attacks recently.

In June, Life Healthcare Group, the second largest private hospital operator in SA, revealed it was a victim of a cyber attack, in the midst of the COVID-19 outbreak.