UK Pawnbroker Chain Targeted in Cyber Attack

Media Division | July 14, 2017

Many different types of organizations continue to be heavily targeted in cyber attacks for various purposes. The information and funds that we frequently store in the digital realm can be a treasure trove for cyber criminals looking to purloin it. The motives of an attack can range quite widely, as they could be trying to damage systems, steal money/data, or gain intelligence. Many organizations tend to think they are not going to be targeted because of being smaller, but this is far from true. In fact, some attackers will target smaller organizations more heavily because they often have lacking security. But, they also continue to hit many large organizations frequently as well. In a recent incident, the large UK pawnbroker chain Ramsdens was hit by a cyber attack which was targeting their 34,000 click-and-collect customers.

The chain has 127 locations around the UK, and they were initially hit by the attack in June. As mentioned above, the attack had targeted the click-and-collect customers, which is when individuals will purchase online and pick up at a local location. Though, it had also been targeting customers of travel card services. The information potentially affected in the attack included names, physical addresses, email addresses, and encrypted passwords to the pawnbroker’s website. A Ramsden spokesperson had said, “We can confirm that we have responded to unauthorized access of our IT systems by a third party. We have been working with a team of experts who have assisted us to take the necessary steps to secure our systems.” They further stated that they do not believe that any data has been extracted, but they reported the incident to regulators as a precautionary measure, as well as notified those potentially affected. They emphasized the fact that no credit card or banking information was included in the attack. Ramsdens has set up a call center to field any questions or concerns of customers.

How Ramsden is Handling the Breach

Ramsdens appears to be taking the breach very seriously, and they are also taking all of the necessary precautions to ensure security and protection of their customers. Even though the affected data is not as sensitive as financial information, it is still important that they show their customers that they are working to protect them, which they have been doing greatly. Many organizations tend to neglect those affected in a breach, especially when the data is not financial or Social Security numbers, but this is dangerous. Not taking care of those affected can lead to great reputation and customer trust damage, which can result in damage to the organization down the road.

Implementing Proper Security to Prevent Cyber Attacks

As cyber attacks and data breaches become more prominent, it is vital that organizations take a good long look at their security measures to ensure that they are fortified. Many organizations continue to rely only on basic security implements like antivirus and firewalls to prevent cyber attacks. These will always be necessary as part of the whole, but they cannot do the job by themselves. Nowadays, it requires much more proactive security methods and tools, such as monitoring and intelligence. Neglecting any point of security in today’s landscape can lead to vicious attacks and breaches, and potentially the downfall of an organization. With how clever and adept modern threats have become, organizations need to place much more focus on cyber security to protect their own and their customer’s data and money. Massive Alliance offers a wide range of security tools and services that can help organizations of all types and sizes to prevent cyber attacks.

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