RockYou2024 Data Breach Sparks Urgent Call to Action for Credit Unions

WHAT:             The recent RockYou2024 data release has exposed close to 10 billion unique passwords on the dark web including 1.5 billion never-before-released passwords, posing a threat to credit unions and their members. The scale of this breach heightens the risk of credential stuffing, a technique used by cybercriminals to gain unauthorized access to user accounts on various platforms.

WHY:               Experts believe this collective data release is the largest of its kind in history, increasing the likelihood that credit union leaders may face an uptick in credential stuffing attacks aimed toward their members.

This breach has the potential to disrupt credit union member services, expose sensitive member information, and enable various malicious activities with a high probability of increased credential stuffing attacks. Credential stuffing attacks involve large-scale fraudulent attempts to compromise multiple accounts in a short period, exploiting the practice of password reuse across different platforms.

While member risk is a major concern regarding these attacks, credit unions should also be prepared for increased member service demand as credential stuffing attacks often lead to massive account lockouts and increased member confusion and concern.

WHO:              Jim Stickley, CEO of Mahalo Banking, is available to discuss how credit unions can protect themselves and their members from the fallout of this breach. Mahalo Banking has developed Credential Assurance Technology (CAT), a patent-pending solution introduced in 2023 that effectively prevents credential stuffing attacks without any added burden to members.

                        Stickley can share:

• The implications of the RockYou2024 breach for credit unions.

• How CAT shields credit unions from credential stuffing attacks.

• Best practices for credit unions to enhance their cybersecurity posture.

CONTACT:     For more information, contact Gabriela Lumpkin at gabriela@williammills.com or Angelo D. Jones II at angelo@williammills.com.  

About Mahalo

Mahalo Banking provides online and mobile banking solutions for credit unions. Based in Troy, Mich., the Mahalo platform is designed and built on superior architecture with deep integration to core processing, providing security and a robust feature set across all delivery channels for a true omni experience. Mahalo offers the industry’s first and only online banking solution to fully integrate comprehensive neurodiverse functionality directly into its platform. This inclusive approach allows credit unions to support and embrace all members and accommodate their unique needs.

For more information about Mahalo Banking, please visit us at mahalobanking.com, follow us on Twitter or connect via LinkedIn.