momentum

Two years after rival insurance group Liberty was hit by hackers demanding a ransomware payment running into millions of rand, now Momentum Metropolitan has informed its shareholders of a data breach on the network of one of its subsidiaries.

The company did not state which subsidiary’s website was targeted by the attack, adding that it was conducting an extensive investigation into the security breach.

“Momentum Metropolitan hereby informs stakeholders that a third party unlawfully accessed a limited portion of data of a subsidiary of the Group,” the company said in a statement to shareholders.

“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 company said that the hackers accessed administrative and financial data, adding that the data breach should not impact clients or stakeholders.

Momentum client and member data was not compromised in the breach, Momentum Metropolitan said.

“Information accessed contains administrative and financial data that is not expected to prejudice any stakeholders of the Group,” the company said.

“The Group has alerted the authorities and investigations are ongoing.”

Momentum said it is working with “cyber-forensic partners” to determine the nature and extent of the breach on its systems.

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