The company claims that it was the victim of a malware attack but has not said anything more specific. Ransomware attacks have risen around the world during the coronavirus pandemic, but MyBudget has given no indication that it has fallen victim to this particular form of Windows malware.
@MyBudgetcomau I could probably forgive the outage despite the inconvenience but I’m not sure I can forgive the desperately poor communication to those of us who have entrusted you with our finances. #mybudget— So Opinionated (@SoOpinionated_) May 14, 2020
The ABC claims that ransomware is behind MyBudget's woes but there is nothing on the company's website to indicate this.
MyBudget has been issuing numerous "updates" about the outage but there has been little of any substance in these messages. In every update, there has been a video message from its founder, Tammy Barton, whose dulcet tones add nothing to the dearth of information.
In short, a company that handles money from people who have to be from the financially strained class is locking itself away without a means for communication.
I have sent 4 requests now for a call back to manually process payment, still no call, haven’t paid rent, credit card, car insurance, loan repayment and have $3 in my account - taken a week and no response! Manage my money?— Jonathan Duckett (@JonathanDucket2) May 16, 2020
Citing one of the many updates, Melbourne-based barrister Peter Clarke commented: "For a company whose business plan is to manage customers' money to not be able to interact with their customers, which has the effect of cutting them off from their money is disastrous.
"That said MyBudget’s statement seems to give the impression of 'it's all under control' with a subtext of 'nothing to see here'."
In another of these updates, MyBudget offered the confused lines that while there was "no credible evidence that significant data was accessed or will be misused", it could not rule this out and was taking all cautionary measures.
Accountability seems to be something sadly missing from the company's reaction to the incident.