Several days ago, London-based shipping giant Clarksons was hit by hackers. Some confidential and sensitive data was stolen during this cyber attack, and the shipping company is working now with police and security experts to mitigate the issue and prevent further data loss.
Hackers could access the company's computer system via one single user's account which was compromised. The account was disabled, but hackers were still able to access sensitive information.
The hackers then contacted the shipping company and asked for a ransom payment in exchange for customers' data.
Stolen personal data could leak soon as long as Clarksons refuses the ransom demand set by the hackers. The sum of the ransom has not been disclosed, and nothing is known about the cyber criminals who attacked the English shipping broker.
The company is now in the process of notifying all the clients who could have been affected by the data breach.
Clarksons officially confirmed the cyber attack in a press release, which contained statements about the company's efforts in making all necessary steps to manage the incident.
The specialists are working on additional security systems to prevent such incidents in the future.
In spite of the company's continued efforts to mitigate the issue, its shares fell by more than two percent after the announcement of the hack was made.
Although all potentially affected Clarksons customers have been notified, the shipping giant has said it refuses to make concessions to hackers.
Despite Clarksons' decision to do this, there are a great number of companies that will willingly pay up hackers' ransom requests in hopes to mitigate the effects of the data breach.
According to one study, about 70 percent of compromised companies pay cyber criminals to prevent an even larger data leak. So, you can never be sure that your data is fully safe with any such company.
For example, one Hollywood hospital paid a $17,000 ransom in 2016 to recover sensitive files that were stolen by hackers.
Some other companies often try to negotiate with the hackers, but this does not help in most cases.
To offer some context, the recent Clarksons data breach is the latest in a string of recent cyber attacks targeted at large corporate companies.
The trend has awakened a sense of urgency among large companies in many high-stakes industries that they need to improve their security protocols to prevent such attacks from crippling their operations.
Today, companies around the globe are beginning to realize how important cyber security is for keeping their business alive and retaining their customer base.
In any case, Clarksons has not resolved the problem yet. Many of the shipping company's customers are still potentially in danger. How will Clarksons manage this situation? We'll see.
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