Freight delivery giant Toll Group is battling to fully restore its services after a crippling cyber attack, which security experts say is the most significant in Australian corporate history, as it faces growing discontent from clients including Telstra, Officeworks and Footlocker. ", "Toll does not have an IT problem at the moment, it has a business problem.". As a precautionary measure, Toll has made the decision to shut down a number of systems in response to a suspected cyber security incident. Cyber-security researchers have identified a total of at least 57 different ways in which cyber-attacks can have a negative impact on individuals, businesses and … Toll Group’s latest cybersecurity incident has escalated to a data breach, with the logistics giant conceding an investigation has revealed the attackers stole some company information. "It's not great, but they paid it and now they're back to normal. Businesses need to take the economic impact of cyber-threats more seriously, as the cost of cyber-attacks is increasing tremendously and massively. Typically hackers gain access to systems and observe how the organisation works, before suddenly locking up key systems and documents and demanding large payments for their release. The ransomware, Nefilim, was first seen in March 2020 according to information security experts Sentinel Labs, and attacks information systems through remote desktop protocols. Follow the latest here. The other example looks at the impact of intellectual property theft against a technology manufacturer. "I cannot think of a more significant supply chain attack in corporate Australian history," James Turner, the founder of information security executives group CISO Lens said. We’re working with them and we’re doing everything in our power to get them moving as a matter of priority and, importantly, when it’s safe to do so.". Our immediate priority is to contain any potential impact to our customers and operations. Corporate clients, including major banks, pulled their business from the company in response to the massive breach. The impact of a security breach can be broadly divided into three categories: financial, reputational and legal. It can affect your bottom line, as well as your business' standing and consumer trust. I can assure our customers and employees we’re doing all that we can to get to the bottom of the situation and put in place the actions to rectify it.”. Individuals have taken to social media to complain that Toll's customer service line provided minimal information, and made promises about impending deliveries that failed to materialise. “We condemn in the strongest possible terms the actions of the perpetrators,” Knudsen said. But even doing that you don't know if you really got rid of them from your environment and would need to get some forensic people in ... and that is costly," Mr Sharrock said. Toll Group says it has adopted a deliberately cautious approach to restoring its systems after the cyber attack, despite the negative impact on its customers. It also uses Toll for its internal courier needs between offices and stores. “Once the attackers have compromised the environment via [remote desktop protocols], they then proceed to establish persistence, to locate and exfiltrate additional credentials where possible, and then to deliver the ransomware payloads to their intended targets,” wrote SentinelLabs. Toll reported a net loss of $113.8 million for the 12 months to March 2019 compared with a profit of $11.2 million a year earlier, according to the company's annual report, which is filed with the Australian Securities and Investments Commission. Toll has been working with Federal Police since the attack occurred, and the government's Australian Cyber Security Centre said on February 6 it was aware of recent ransomware incidents involving Mailto or Kazakavkovkiz. It isn’t clear at this time if the two attacks are connected. The incident follows an initial attack in February which saw Toll shut many of its core services down, impacting clients and customers alike. Toll customer data stolen in its second cyber attack of 2020. However, the time taken to investigate the problems and start bringing services back online has caused some of its biggest customers to take their business to rivals. Victoria reports 10 new cases including two notified yesterday; ACT closes to non residents from midday; the tourism industry wants an extension of JobKeeper as a result of the latest border closures. Our cyber security and forensic teams have joined forces to bring to life the impacts of a cyber attack in the global report “Beneath the surface of a cyber attack”. The company has since been renamed Acumentis. And the software uses a name and shame strategy of ransom, threatening to publish sensitive information acquired during the attack should the victim refuse to cooperate. The issue of whether companies should pay ransoms to hackers is just as fraught with moral and strategic disagreement as it is in the realm of human kidnappings. However, the full damage is likely to be unknown for several weeks as the business continues to confirm what was accessed. The tangible and intangible losses resulting from an attack like this can have catastrophic consequences for businesses, and a flow on impact to those in their ecosystem, but the ripple effect is often unreported, and unnoticed. Here are a few facts and figures from the 2016 Norton Cyber Security Insights Report that will change the way you think about cyber security. We are investigating the root cause to resolve the issue. Toll Group managing director Thomas Knudsen said the attack was unscrupulous, and that the business is working with the Australian Cyber Security Centre and the Australian Federal Police. Kevin Mandia, CEO of FireEye, said that while some 18,000 organisations had the malicious code in their networks, it … A Telstra spokesman said its main problem from the Toll hack had been the need to switch to manual processes from automated deliveries. It’s possible to lay a security foundation to prevent, detect, and remediate cyber attacks. 12/05/2020. "For all of that, we know that some of our customers continue to be affected. It said it had considered the alternative option of rebuilding its entire IT network from scratch, and probably losing significant amounts of research, and decided to pay. Transit passengers in Metro Vancouver are now able to pay their fares with debit or credit at Compass Card vending machines after they were offline for three days due to a ransomware attack. "We can say pretty clearly that it was the Russians that engaged in this activity," Mr Pompeo said on Friday. Everyone wants meaning in their work – but how do you define it? Some systems are offline at transport and logistics company Toll Group following a "suspected cyber security incident." Tue 2 Feb 2016 04.50 EST Last modified on … The spokesperson declined to talk about the financial impact on Toll, or the issue of penalties it had incurred from clients, saying it was too early to be specific about the impact of the event on its business. The recent ransomware attack on Toll Group underscores the susceptibility of Australia’s transport and logistics sector to cybercrime It started with an inconspicuous message on Toll’s website about a precautionary shut-down of its IT systems and unfolded into one of the highest-profile cyberattacks in transport and logistics history – let alone the corporate world. Recent history showed Toll could be in for a lengthy and expensive recovery period. Combining cyber risk knowledge with business valuation and financial quantification methods, this paper draws essential lessons about the direct costs and the intangible impacts of a cyber crisis. Optus similarly sends thousands of parcels every week, including phones, modems and SIM cards. A successful cyber attack can cause major damage to your business. #1 Modify Your IT Security Plan. A client calls to report a situation. Washington | Congress on Friday overrode President Donald Trump's veto of a defence policy bill, a first by lawmakers since he took office nearly four years ago, ensuring that the measure becomes law despite Trump's rejection. Mike Pompeo said investigators were still "unpacking precisely what [the cyber-attack] is" US Secretary of State Mike Pompeo has blamed Russia for what is being described as the worst-ever cyber espionage attack on the US government. In late 2018, ASX-listed property valuer Landmark White had its valuation records stolen and posted on a dark-web forum for 10 days after it failed to respond to tip-offs about the breach during the quiet Christmas holidays. “As a precaution, we have written to impacted employees (past and current) to provide them with information on how they can protect themselves,” Toll … The toll of victims compromised by a sophisticated suspected Russian cyber-attack has continued to rise since Dec. 8 when the cybersecurity company … The stolen data may now be published on the ‘dark web’ in line with what is known about the attacker’s previous behaviour, which Toll believes means the data is not readily available on conventional online platforms. "It's happened in the US and it's not surprising it's now hitting Australia," said Mr Watts, who worked in telecommunications management roles before entering politics. The $6.5 billion acquisition of Toll by Japan Post in 2015 has already proven a financial disaster for the Japanese group, which wrote off $4.9 billion on the investment in fiscal 2017. The ACSC later released an advisory notice about Mailto, saying it had published a so-called hash of the ransomware, which is an identifier that can be used by other organisations to scan their systems and get advanced warning if it is anywhere on their network. Late last year CISO Lens' Mr Turner wrote in the Financial Review that any executive who authorised the payment of ransomware should, as their next act, tender their resignation for a total failure of leadership. — Jonathan Sharrock, managing director, Cyber Citadel. ... any potential impact … Deliveries stranded across Australia as Toll confirms ransomware attack. CEO Thomas Knudsen was a senior executive at Danish logistics giant Maersk when it was hit by a significant ransomware attack in 2017 that was estimated to have cost the company more than $200 million. ", "I'm sure if you said to Toll a month ago they would have said, 'No we're alright we don't need any support'. Forty percent of Millennials report having experienced cybercrime in the past year. "Core systems including email, phones and end-user devices have been tested, restored and are operating as normal. "At this time, the ACSC is unaware whether these incidents are indicative of a broader campaign," the ACSC said. Toll did not pay the ransom, as is the strategy usually advised by experts,  and has declined to say how much was demanded. Toll confirmed it had refused from the outset to engage with the hacker’s ransom demands, consistent with the advice of cyber security experts and government authorities. 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