In a recent development, two of South Africa's largest credit bureaus, TransUnion and Experian, have been targeted by hackers known as N4ughtySecTU, who claim to have gained access to sensitive financial and personal data of South African citizens.

TransUnion has confirmed the hackers' demand for a R1.1 billion ransom and their ultimatum of releasing the confidential information within 72 hours. However, TransUnion maintains that they have found no evidence of a security breach and that their systems remain intact.

This is not the first time TransUnion has been subjected to cyberattacks. Last year, the hackers demanded a R223 million ransom.

In August 2020, Experian experienced a significant data breach, exposing the personal information of over 20 million South Africans and 793,749 businesses to a fraudster named Karabo Phungula, who was later sentenced to 15 years in prison.

Despite the allegations, Experian has also denied any data compromise, stating that their systems remain secure and that they take such threats very seriously. "Protecting our customers and data is our top priority," Experian asserted.

As the situation unfolds, both TransUnion and Experian continue to monitor the situation closely and maintain that their priority remains safeguarding their customers' data and ensuring the integrity of their systems.