Australian trading firm TechnologyOne has been hit by a cyber attack which caused the company to halt trading and impacted millions of customers. The attack is thought to be ransomware and has affected some of the software maker’s servers. The company has stated that those impacted will be contacted personally through a digital note. This is one of the largest cyber attacks to take place in Australia in the past two years and the company is now investigating the incident.
The attack on TechnologyOne is not the first major cyber attack to take place in Australia. Both Optus and Medibank have also been targeted in the past two years. The Australian government has urged all companies operating from nations in support of Ukraine to review their cybersecurity defense line immediately and take proactive security measures to safeguard their IT infrastructure from state-funded attacks.
During the investigation of the Optus Cyber Attack, it was revealed that a state-funded actor was involved in the incident. However, national security concerns meant that little information could be disclosed about the attacker. There are reports in the media that the attack on TechnologyOne could be the work of a pro-Russian hacking gang and may be a form of retaliation against the continent for supporting Ukraine in its war with the Kremlin.
This latest attack highlights the increasing importance of cybersecurity in the digital age. Companies must take proactive steps to safeguard their IT infrastructure from state-funded attacks. This includes reviewing their cybersecurity defense line, implementing stronger protections, and having an incident response plan in place in the event of a cyber attack.
Key points:
– TechnologyOne, an Australian trading firm, has been hit by a cyber attack.
– The attack is thought to be ransomware and has impacted some of the software maker’s servers.
– Companies operating from nations in support of Ukraine have been urged to review their cybersecurity defense line and take proactive security measures.
– The attack highlights the importance of cybersecurity in the digital age and the need for companies to have an incident response plan in place.
– This is one of the largest cyber attacks to take place in Australia in the past two years.