News and Updates on Information Technology

Switzerland – Swatch

Exploit: Ransomware
Swatch: Watchmaker

Risk to Small Business: 2.301 = Severe

World-renowned watchmaker Swatch was hit with ransomware that impacted several of its systems, causing disruptions throughout its operations for several days. Some systems weren’t directly affected but were shut down to mitigate damage and stem the tide of the infection. The company did not identify the exact type of ransomware used but indicated in a statement that it was aware of the culprit and would be pursuing legal action accordingly.

Individual Risk: No individual information has been reported as compromised in this incident.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Ransomware doesn’t always allow thieves to steal data – sometimes cybercriminals want to shut a business down by stopping production or impacting other business operations to cause disruption.