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Ransomware Attacks FinTech Giant Finastra: Recovery Update

Tom Kilroy, COO, Finastra

Finastra, the world’s third-largest fintech company, has experienced a ransomware attack that forced the company to temporarily shut down its IT servers. Tom Kilroy, Finastra’s COO, indicated his company is working to restore its IT operations after the incident.

The Finastra ransomware attack was identified last week, the company said. A bad actor tried to integrate malware into Finastra’s network, and the company immediately began to neutralize the cyberattack.

Finastra initially started working with an independent cybersecurity firm to address the cyberattack but took its IT servers offline, the company stated. The company took its IT servers offline to contain the cyberattack, secure its network and safeguard its customers’ data.

To date, there is no evidence that any Finastra customer or employee data was accessed or exfiltrated or that its customers’ networks were impacted by the cyberattack, the company noted. Finastra continues to bring its IT operations back online.

Ransomware Attacks Continue Amid COVID-19 Pandemic

The Finastra cyberattack comes after cybercriminals earlier this month launched a NetWalker (Mailto) ransomware attack against the Illinois Champaign-Urbana Public Health District (CUPHD) website. CUPHD has recovered from the cyberattack, and its email accounts, environmental health records and patient electronic medical records were unaffected by the incident.

Furthermore, Fortune 500 company Emcor last month experienced a Ryuk ransomware attack. Emcor shut down IT systems affected by the Ryuk attack and implemented business continuity plans, and no evidence was discovered that employee or customer data was taken during the incident.

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