The Land and Agricultural Development Bank of South Africa (Land Bank) has temporarily taken several internal IT systems offline as a precautionary measure, potentially disrupting some banking services as the institution prioritises operational security.

System Disruption Affects Core Operations

Rebecca Phalatse, Head of Communications and Marketing at the Land Bank, confirmed that certain internal systems were deliberately taken offline to protect operations and sensitive information.

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“As a precautionary measure, certain internal IT systems of the Land and Agricultural Development Bank of South Africa have been temporarily taken offline to protect our operations and information,” Phalatse said in a statement.

The move affects both the bank and its subsidiary, Land Bank Insurance Company, as cybersecurity threats continue to pose significant risks to financial institutions globally.

Response Teams Mobilised

According to Phalatse, the bank has deployed both internal IT specialists and external security experts to assess the situation and work toward restoring full functionality.

“Our internal IT teams, supported by external specialists, are actively working to assess the situation and restore full functionality securely and responsibly,” she stated.

Service Impact Expected

While the bank has not specified which services are affected, Phalatse acknowledged that some transactions and banking operations may experience temporary disruptions.

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“Some services and transactions may be temporarily impacted, but we are making progress and will provide updates as we reach milestones,” she explained.

Phalatse emphasised the bank’s commitment to protecting its stakeholders during the restoration process.

“The bank’s priority remains safeguarding its operations and the interests of its clients,” she said, adding that the institution regrets any inconvenience caused.

The response is being overseen by the bank’s senior leadership team, including Chief Executive Officer TM Rikhotso and Chief Financial Officer KH Mukhari, with Chairperson M Skwatsha and the board monitoring the situation closely.