WFCU locks access to online banking for some members after security breach

A number of WFCU credit union members had their online banking accounts locked over the weekend due to a security breach.

WFCU president and CEO Eddie Francis issued an update in a video posted to the credit union’s website Tuesday saying its systems fraud and security team discovered unauthorized activity on some of its members’ accounts.

“Further investigation led us to believe that this unauthorized activity was being caused by bad actors preying on weak passwords and getting access, unauthorized access, into some of our members’ accounts,” Francis said in the video.

Francis went on to say WFCU took steps to close all access to “weak password protected accounts” by locking those accounts from online access.

On Friday, WFCU posted an alert to members stating “we have detected a number of weak Personal Access Codes (PAC), indicating some online banking accounts could be easily compromised.”

The memo said the accounts have been locked in the interested of member security. Customers were directed to reach out to the contact centre to reset their passwords.

“We apologize for the inconvenient. We regret the inconvenience that we caused our members. But it is my hope that our members understand that we take security seriously. It is my hope that our members understand that when we saw activity taking place in some accounts that we took steps to protect all of our members,” Francis said.

Any member who is a victim of fraud due to this issue will be refunded 100 per cent of the funds lost.