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Saturday, 21 March 2020 06:42

Top UK fintech Finastra breached in likely ransomware attack Featured

Top UK fintech Finastra breached in likely ransomware attack Pixabay

The British fintech firm Finastra appears to have been hit by a Windows ransomware attack, with the company saying it had noticed "potential anomalous activity" on its systems on 20 March.

Finastra provides services to 90 of the top 100 banks globally, has US$1.9 billion in annual revenue, and has more than 9000 customers and 10,000 employees, according to its own website.

"Upon learning of the situation, we engaged an independent, leading forensic firm to assist us in investigating the scope of the incident," the company said in a statement dated 20 March.

"Out of an abundance of caution, we immediately acted to take a number of our servers offline while we continue to investigate.

"We are working to resolve the issue as quickly and diligently as possible and to bring our systems back online, as appropriate.

"We are in touch directly with any customers who may be impacted. Safeguarding our assets and those of our customers remains paramount, and we have committed to updating our stakeholders regularly and providing more information as it becomes available."

The threat intelligence service Bad Packets speculated in a tweet that the attackers could have gained entry either through a flaw in Citrix Server or else through a vulnerability in Pulse Connect Secure, an application that claims to provide secure access to machines in the cloud or data centres.

The two vulnerabilities — CVE-2019-19781 and CVE-2019-11510 — date from 2019, according to the National Vulnerability Database.

Well-known British security researcher Kevin Beaumont expressed his reaction in two short words: "Dear lord."


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.



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