We were not hacked, CBZ

CBZ Group CEO Lawrence highlighted the facts behind the recent service disruption that sparked rumors of a cyber attack earlier this month. Addressing the speculation, he clarified, “It wasn’t a cyber attack. What happened was an issue with our data center, where heat levels exceeded what the machines could handle.”

Explaining further, he likened the scenario to how personal devices react under extreme conditions. “Think of your phone. If you leave it in excessive heat, it will shut down to protect itself. That’s exactly what happened with our data center. When the heat rose beyond safe levels, the systems shut down automatically, and we needed time to restart everything methodically.”

The shutdown led to a temporary loss of services, which understandably caused inconvenience for customers. However, Mr. Lawrence emphasized that this incident underscores a broader message about the importance of cybersecurity and operational vigilance.

“Whether it’s your personal gadget or the largest financial institution in the world, we all need to remain vigilant and ensure our systems are protected. This is a collective responsibility, not just for the financial services sector but for all businesses and citizens,” he said.

The CBZ Group CEO reassured customers that the bank is committed to maintaining high standards of reliability and security, adding that preventative measures remain a priority in today’s increasingly tech-driven world.

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