Land Bank

Summary

Land Bank experienced a cyber incident that led to the temporary shutdown of several internal IT systems and its website, disrupting banking services and affecting its insurance subsidiary. The bank stated the precautionary shutdown was taken to protect operations and sensitive information amid global cybersecurity concerns, with internal teams and external specialists working to restore functionality. While the website was initially unavailable, relationship managers remained accessible to clients, and the bank confirmed that banking details and terms were unchanged. A forensic investigation into the ransomware attack was ongoing, and after implementing enhanced security measures, the bank announced that its website and systems were fully restored.

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Description

In January 2026, the Land and Agricultural Development Bank of South Africa (Land Bank) experienced a cyberattack that involved ransomware deployed by an external party. As a precautionary measure, the bank temporarily took certain internal IT systems offline to protect its operations and sensitive information. The disruption affected both Land Bank and its subsidiary, Land Bank Insurance Company, with some services and transactions experiencing temporary interruptions. Rebecca Phalatse, then Head of Communications and Marketing, stated that the shutdown was necessary amid broader cybersecurity concerns affecting financial institutions globally. Senior leadership, including Chief Executive Officer TM Rikhotso, Chief Financial Officer KH Mukhari, and the board, oversaw the response to the incident. Internal IT teams, supported by external cybersecurity specialists, were deployed to assess the situation and work toward restoring full functionality.

The bank’s forensic investigation into the attack remained ongoing as of March 2026, and no further details were publicly disclosed at that time. The Department of Agriculture reaffirmed Land Bank’s key role in the agricultural sector during the period of disruption. Clients were advised to change passwords and monitor their accounts, while the insurance division confirmed that banking details and terms remained unchanged. By April 17, 2026, Land Bank announced that its website and systems were fully restored following the implementation of enhanced security measures. Acting Chief Executive Officer Jabu Mphambo confirmed that the digital platforms were back online and thanked stakeholders for their patience and continued trust. He noted that the bank remained focused on safeguarding operations and client interests throughout the recovery process.

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