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Boyd Group Income Fund Reports Ransomware Cyber-Attack
From: Destry Winant <destry () riskbasedsecurity com>
Date: Fri, 5 Jul 2019 09:21:29 -0500
https://www.newswire.ca/news-releases/boyd-group-income-fund-reports-ransomware-cyber-attack-837880181.html Boyd Group Income Fund (TSX: BYD.UN) ("the Fund," "the Boyd Group" or "Boyd") today announced that on June 27, 2019, it detected a ransomware attack on a subset of its information technology systems. Upon detection by internal systems, steps were immediately taken to contain and mitigate any potential impact to Boyd's data and to operations as well as to start the recovery process. At present, there is no evidence that customers' or employees' information was compromised as a result of this attack although cybersecurity experts are continuing to conduct and conclude a forensic analysis to confirm this fact as quickly as possible. Should findings dictate, Boyd will immediately take appropriate steps to notify impacted parties. It should be noted that most customer personal information is stored in cloud-based applications and not in Boyd's systems. Any customer personal information stored in Boyd's systems is limited in nature. Independent cybersecurity firms have been brought in to help Boyd understand the full extent of the attack, including conducting a comprehensive forensic review. "We are taking this attack very seriously", said Brock Bulbuck, CEO of the Fund. "The integrity of our data and the security of our systems is paramount. Our team, backed up by independent industry specialists, have been working around the clock to minimize the impact on our valued customers, employees and operations. Unfortunately, no organization can guarantee that it won't suffer a cyber-attack. However, the Boyd Group is committed to ensuring that it has the appropriate controls in place to quickly identify and recover from such an attack." Having detected the attack, Boyd immediately implemented countermeasures to prevent further infection, in accordance with established company policies. Additionally, back-up and recovery plans were put into action, and are working effectively to get all systems back to full functionality as quickly as possible and within normal time frames for these types of events. Boyd has also reported the attack to law enforcement agencies. While most of Boyd's locations have been able to continue to process and complete repairs at normal or near normal levels, this event and the recovery period will result in a temporary interruption of some business that will result in the loss of some sales. The full extent of the impact on sales and earnings cannot be determined until all operations have been fully recovered, however, at this time based on current information and analysis, the overall financial impact is expected to be minimal. Boyd has notified its insurance carrier of this potential loss to maximize recoveries. "While this has been a disruptive event that will have some short-term impact on our sales and earnings, our business model and strategy remains solid and unaffected. Boyd is committed to utilizing all available means to protect its operations and its customers' information,'' added Bulbuck. "We will continue to work with cybersecurity specialists to turn back unauthorized activity in this age of highly sophisticated threats to information systems." _______________________________________________ BreachExchange mailing list sponsored by Risk Based Security BreachExchange () lists riskbasedsecurity com If you wish to Edit your membership or Unsubscribe you can do so at the following link: https://lists.riskbasedsecurity.com/listinfo/breachexchange
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