News & Events

News & Events

International firm held to Ransom

It is widely reported that Travelex, a globally based Foreign Exchange company, are currently being held to ransom following a cyber – attack.

The BBC reports:

A ransomware gang called Sodinokibi has told the BBC it is behind the hack and wants Travelex to pay $6m (£4.6m).

The gang, also known as REvil, claims to have gained access to the company’s computer network six months ago and to have downloaded 5GB of sensitive customer data. 

Dates of birth, credit card information and national insurance numbers are all in their possession, they say.

The hackers said: “In the case of payment, we will delete and will not use that [data]base and restore them the entire network. 

“The deadline for doubling the payment is two days. Then another seven days and the sale of the entire base.”

It is quite clear the effect that a ransomware attack can have and in many cases, especially with Brand name companies or smaller SMEs. it can be impossible to completely recover from such an attack.

No company is free from the threat of such an attack, regardless of what measures that they have put in place. However, those companies that have recognised the threat, taken all appropriate AND created a Disaster Recovery Plan that would allow them to recover from the loss of all of their systems, can recover quite quickly. This is exemplified in my previous post.

It seems, if we are to believe what is being reported, that Travelex have had to resort to using pen and paper and that their systems have now been down for in excess of a week.

To learn more about how to prepare your business for such a disaster, please complete the contact form or contact Mark Williams, Operations Manager, on 03333 449797.