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DXC investigating ransomware attack at Xchanging

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Xchanging, the insurance procurement arm of global IT services firm DXC Technology, has been hit by a ransomware attack.

It is unclear at this stage if the cyber breach affected any of Xchanging’s clients in Australia. DXC declined to comment beyond a brief statement, citing an ongoing investigation of the incident by law enforcement and security authorities.

But a spokesman for WorkSafe Victoria, which has Xchanging as one of its workers’ compensation agents, told insuranceNEWS.com.au it has been advised by DXC that the ransomware attack did not impact its operations.

The statement from DXC says the cyber incident is “isolated” to the Xchanging environment and attacked “certain systems” of the business.

“Xchanging is primarily an insurance managed services business that operates on a standalone basis,” the statement said. “In addition, DXC does not have any indication at this time that data has been compromised or lost.

“The company has implemented a series of containment and remediation measures to resolve this situation. DXC is actively working with affected customers to restore access to their operating environment as quickly as possible.”

Clyde and Co Partner John Moran, who leads the global law firm’s cyber incident response practice, says the ransomware attack on Xchanging further underscores the growing digital threat facing every business.

“Australia, like may other countries, is currently experiencing a new wave of ransomware incidents, in what is being dubbed ‘big cyber game hunting’,” he told insuranceNEWS.com.au today.

“Our team is seeing a shift away from the more ‘routine’ incidents where criminals seek a handful of bitcoins in return for the decryption of their IT systems.

“The risk landscape has evolved to sophisticated and well planned out attacks, with organisations being profiled and hand-picked as targets.

“The threat around encryption of systems is now more frequently than not coupled with a threat of data theft and for that data to be ‘dumped’ or auctioned online.”