Sat | Jun 6, 2020

JN waive some fees after cyberattack

Published:Saturday | March 21, 2020 | 12:21 AMNeville Graham/Business Reporter
An elderly woman crosses Constant Spring Road to the Half-Way Tree Transport Centre parallel to the Jamaica National Bank yesterday. It was reported the bank suffered a major cyberattack on its systems which affected JN Bank services.
An elderly woman crosses Constant Spring Road to the Half-Way Tree Transport Centre parallel to the Jamaica National Bank yesterday. It was reported the bank suffered a major cyberattack on its systems which affected JN Bank services.

A sophisticated cyberattack was unleashed on the JN Bank this week sending the financial institution’s cybersecurity team into defence mode as they took swift action to contain the effects of the malware and to identify the source of the onslaught.

JN Bank says no customer account was affected, as accounts are kept and protected by a separate system. The bank says it has identified that data relating to some members and customers were taken during the data security incident.

JN Bank says it will waive fees for MultiLink debit card and ATMs for the period March 14-22. This was word contained in one of two messages to customers at the former Building Society and now Jamaica’s third largest bank by assets, as it went into damage control mode after the cyberattack.

A release from the bank says “On the morning of Saturday, March 14, 2020, The Jamaica National Group experienced a data security incident as a result of a cyberattack.” Checks by The Gleaner indicate that the attack lasted the better part of five days. The cyberattack had the effect of locking out (denial of service) customers and other users of JN Group’s online platforms. This meant that customers using JN Bank’s online services, JN Money and JN Fund Managers were denied access.

The matter was resolved on Thursday after JN told clients that they could access the online platforms.

Contacted for further comment, JN representatives declined to elaborate but said that the matter is under active investigation.

There was no indication as to the extent of the leak of customers’ information.

This is not the first cyberattack at one of Jamaica’s financial institutions. At least two other banks have been targeted over the last three years leading to a revamp of their IT arrangements.

neville.graham@gleanerjm.com