AIM-listed British power and data transmission products manufacturer Volex PLC is the latest victim of a cyberattack.
KEY FINDINGS
- A UK-based critical power and data transmission products manufacturer, Volex PLC, has suffered a security breach.
- The company claims there’s no evidence of a ‘material financial impact.’
- The attack resulted from attackers gaining unauthorized access to some of its IT systems and data.
- Volex claims it responded quickly to mitigate the attack and implemented an incident response plan.
- Part of the plan is to ensure all its websites remain operational and global production systems stay unaffected.
- The company has consulted cybersecurity experts to investigate the incident.
AIM-listed British power and data transmission products manufacturer Volex PLC is the latest victim of a cyberattack. The incident resulted from unknown threat actor(s) gaining unauthorized access to some of the company’s IT systems and data at several global sites.
However, Volex claims that attackers could not access financial data, and the incident had no material financial impact. Still, as noticed by London-based City AM publication, the company’s shares dropped around 4% on Monday morning.
The 131-year-old Volex has employed unnamed third-party cybersecurity specialist consultants to investigate the root cause and extent of damage caused by the attack. The company stated in its Notice of Cyber Incident that multiple global sites of Volex were targeted in this data breach.
Volex explained that it responded immediately and took action to keep its websites operational. The company implemented an incident response plan so that global production levels experience minimal disruption and uninterrupted trading with its suppliers and customers is ensured.
However, when checked at 13:25:26 UTC, the Volex website was offline, displaying a Cloudflare page. Nevertheless, at the time of writing, the website has been restored and is available for visitors.
“On becoming aware of the incident, the Group enacted its established IT security protocols and took immediate steps to stop the unauthorized access to its systems and data. Specialist, third party consultants have been engaged to investigate the nature and extent of the incident and to implement the incident response plan.”
It is worth noting that the company has footprints in 24 countries and owns 27 production sites. Europe, North America, and Asia are its primary trading markets.
We will update our readers as soon as Volex releases an update.
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