Engineer Weir Group rocked by ransomware hacking attack which could hit profits by £40m
Weir Group – which specialises in mining – said last night that it had been hit by a ransomware attack
Weir Group revealed it was the target of a ‘sophisticated’ cyber-attack last month, hitting profits.
The FTSE 250 engineer – which specialises in mining – said last night that it had been hit by a ransomware attack. This is a type of computer software which infiltrates a business’s IT network, and threatens to steal or destroy all its private information unless it is paid.
Weir said it ‘responded quickly to the threat and took robust action’, including bringing in external consultants, and that ‘there is no evidence that any personal or other sensitive data has been exfiltrated or encrypted’.
The attack occurred towards the end of September.
It had to shut down its IT systems, and some of its applications are yet to be brought back online.
The overall impact will bring projected profits down from £270million to between £230million and £245million, Weir said.