Norsk Hydro ransomware losses estimated at $40m
A week after suffering a crippling ransomware infection, Norwegian aluminum producer Norsk Hydro estimates that total losses from the incident have already reached $40 million.
The company said most of this estimate consists of lost revenue, especially from its Extruded Solutions business division, the one most impacted by the ransomware attack.
In an update on its site today, Norsk Hydro said it almost fully recovered from the attack and that most operations are now running at normal capacity.
The only Norsk Hydro business division still impacted by last week's ransomware attack is the aforementioned Extruded Solutions where production is at 70-80 percent.
Three of the divisions' four business units are running normally --namely Extruded Solutions Europe, Extruded Solutions North America, and Precision Tubing.
In a press release today, Norsk Hydro said "operations remain almost at a standstill" in its Building Systems unit --the one that develops and sells aluminum-based window, door and facade products.
However, current expectations are that the unit would "gradually ramp up production and shipments during the week."
Norsk Hydro expects to fully recover following the incident, something that cannot be said for US chemical firm Momentive, which was hit by the same LockerGoga ransomware strain. The US firm has already ordered new computers to replace the ones encrypted by LockerGoga, according to a report.
On the other hand, Norsk Hydro said last week it intended to restore from backups, and it followed through on its plan with minimal financial losses.
The $40 million estimated losses are small in comparison to the $100 millions in damages Spanish food giant Mondelez reported in 2017 when it was hit by the NotPetya ransomware, and the $300 million figure reported by Danish shipping giant Maersk for the same incident.
It now remains to be seen how much of the $40 million losses will be covered by Norsk Hydro's cyber-insurance policy. Most cyber-insurance policies don't necessarily cover revenue losses caused by loss of business capabilities. Instead, most cover costs directly generated by the cyber-incident, such as IT consulting, incident response costs, and replacing computers and software.
Norsk Hydro will without a doubt have a much better chance at convincing its cyber-insurer in covering some of these costs.
Over the past few months, two different insurers have refused to cover damages caused during the NotPetya ransomware incident, citing an "act of war" clause included in insurance contracts. The insurers refused payments after several countries including the US, the UK, Australia, and Canada have blamed Russia for releasing NotPetya as part of its cyber-war against Ukraine.
Currently, Mondelez and DLA Piper (Britain's biggest law firm) have not been able to cash in their cyber-insurance policies in relation to the NotPetya attack for this reason.
Industry: Cyber Security News
- Information Security Risk Consultant, London. ISO 27005
REFCH7901 Information Security Risk Consultant, London. ISO 27005 Information Security Risk consultant needed for a London based client. The ability to achieve SC security clearance will be required. ISO 27005 Risk Assessment experience is essential. The role will cover, Risk identification, Assessment and Advisory consulting. This is a client facing role, single client- not multiple. Experience working with multiple teams and internal stakeholders is essential. The information Security Risk Consultant should ideally have a breath of information Security and IT technology based security experience. Prior experience within the public sector is desirable, but not essential. Broad knowledge across Security IT transformation, Cloud is also key. Broad experience across GRC, iso27001, NIST is key. Ongoing support and training provided. Apply today for more information, all details kept in confidence.
- Google Cloud platform Security Engineer, Contract, inside IR35
- United Kingdom
REF CH7897 Google Cloud platform Security Engineer, Contract, Inside IR35 Looking for a Google Cloud platform Security Engineer will define, document, design, implement, harden and generally improve the security capability of a Google Cloud Platform. The ability to configure, and deploy the following Google Cloud Platform security solutioons is essential; Command Security Centre, Cluster Security, APIGEE, GCP Cloud Armor Hands on technical expertise security experience with Terraform, Kubernetes Security, Container (Docker) security, Secret Manager is essential as is experience securing Google Kubernetes Engine Workloads. It is essential that you have a proven track record of securing a GCP environment and expertise in automating that with Terraform. Scripting experience with the above where appropriate is a key ability. You will be highly technical and have the ability to engage with stakeholders to ultimately deliver a secure and hardened Google Cloud Platform.
- IAM Consultant- Identity Governance
- United Kingdom
- Upto £80,000 plus benefits
Identity and Access Management Consutlant is required for this established business who put their employees first. the role entails • Develop and maintain IAM services. • Further develop IAM tool integration with Service Now to provide automated JML processes and application access requests and fulfilment. • Provide guidance over Role Based Access in terms of Location based Roles, Application Roles and Business Roles and act as SME over any future RBAC project. • Work closely with our other Technology teams on integrating IAM services with Technology and business systems to increase efficiency through automation around areas such as JML processes, application access request fulfilment and attestation. • Work with the Governance Risk & Compliance (GRC) team to provide application access attestations and toxic combination alerting and reporting. • Involvement with Identity Management initiatives such as Single Sign On (SSO) and Privileged Access Management (PAM), to ensure security and business processes are in line with industry best practice. • Assist in ensuring that all IAM capabilities are mapped to internal processes, policies, and standards. Develop metrics to measure and improve the alignment. • Complete monthly review and report on sensitive group access, i.e., service accounts, admin accounts, etc. validating I&O processes are effective. • Provide information to both internal and external Auditors in response to findings. • Collate audit evidence for AAF audit and control reviews, taking responsibility for identifying service and process improvements to ensure compliance with our controls and standards. We are looking for someone with Hands on technical experience with the IAM tools, you need to have been involved in the integration of the IAM solution into 3rd party software like Servicenow, You will have worked with an IAM tools that are focused into Identity Goveranance, like RSA, CA Identity Suite, Fischer Identity, Hid Global, IBM IGL, Net IQ Identity Goverance, Omada, Ping or Oracle Post covid, this role will invovle a mix of home and office work, the business have a number of office spread across the UK so locaton is flexible for this position
- Sales Executive- SaaS/ Cloud/ Telecommunications Services
- Upto €80,000
A great opportunity has arisen for an expanding Cloud connectivity provider to join their German sales team to help them develop new business into the DACH region, They are looking for an agile and highly driven sales professional to win new enterprise business across the DACH region, with a particular focus on Switzerland. This is an opportunity to take part in help to shape the future of cloud native connectivity. This is a Hybrid role with a mix of account management and new business hunting, so are looking for people who enjoying doing both roles. This is a great opportunity to join a business that is growing and is still in early stages of it European growth phase, where you career will grow with the business If you are a highly motivated and driven individual with experience in selling either Telecommunication, cloud or security solutions and are seeking a sales role working with cutting edge technology in a fast-paced environment this role could be for you. Send your CV and we will call you back to discuss the opportunity in more depth