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Cyber Risk Alert

By Ben Bowen on

Cyber risks are continually evolving. This makes it all the more important for you to be up-to-date and have effective response measures in place to insulate yourself against emerging threats.

We would like to bring to your attention the below update from our IT department outlining a notable cyber-threat in circulation which may pose significant threat to your organisation.

Please be advised that there is a ransom ware Cryptolocker virus circulating via email.  This ransom ware that encrypts all files on the user's computer and network drives, arrives by email stating that there is a parcel ready to be picked up from a local Australia Post office.  

If for some reason email this makes its way to you (an external mail filter should prevent this), please delete the email and advise your IT department immediately.

It is nearly impossible to recover the encrypted file and will require data to be restored from backup.  

This issue needs investigating with software/hardware vendors to ensure that everything is up to date and that this is variant of the Cryptolocker virus is blocked.  

If you notice any encrypted files, you should contact your IT helpdesk immediately to minimise the impact of the infection.
NOTE:  Encryption is the conversion of data into a form, called a cipher text that cannot be easily understood by unauthorized people – in short, your text will appear as a string of code - letters, numbers, or symbols.

Regardless of how good your company IT systems are, there is no 100% guaranteed way to protect your data.  A data breach can not only affect your business, it may also negatively impact your clients and customers.

Stolen credit card numbers, financial reports, medical records, birth dates and the loss of sensitive personal data can see you held liable, exposing you to significant financial loss and the fallout of reputational damage.

Cyber Liability insurance can help insulate your company from the consequences associated with a cyber-breach. If you wish to find out more on how you can give greater certainty to the future of your business please contact us to request a quote.

This article is not intended to be advice and you should not rely on it as a substitute for any form of advice.  Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 Licence Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.

The Whitbread Channel

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Ben Bowen

Ben Bowen, Whitbread’s General Manager | Broking, shares his insights into the perils of importing goods into Australia, and the things to watch out for when it comes to your insurance.

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