Papua New Guinea’s finance department acknowledged late Thursday that its payment system, which manages access to hundreds of millions of dollars in foreign aid money, was hit with a ransomware attack.
The attack on the Department of Finance’s Integrated Financial Management System (IFMS) occurred at 1 a.m. local time on Oct. 22, according to a statement released by John Pundari, finance minister and acting treasurer, Bloomberg reported.
Commenting on the news, Robert Golladay, EMEA and APAC director at Illusive, said:
“This is yet another example of how cybercriminals have no shame.  They will continue to attack impoverished nations as well as the “first world”.  In the case of Papua New Guinea, who knows what was exfiltrated? And how that might be used in further criminal activities?  Like with Covid-19, we should treat these attacks as a global pandemic. Countries that have expertise and resources should commit to helping. 
There are basic things that any entity needs to do to prevent this kind of attack, including education, software patches, and backups.  Basic understanding of the attack surface is also a critical activity for all government organizations and agencies.”
The IT Security Guru offers a daily news digest of all the best breaking IT security news stories first thing in the morning! Rather than you having to trawl through all the news feeds to find out what’s cooking, you can quickly get everything you need from this site!

Our Address: 10 London Mews, London, W2 1HY
Follow Us
© 2015 – 2019 IT Security Guru – Website Managed by Calm Logic
© 2015 – 2019 IT Security Guru – Website Managed by Calm Logic
This site uses functional cookies and external scripts to improve your experience.
Privacy Settings / PENDING
This site uses functional cookies and external scripts to improve your experience. Which cookies and scripts are used and how they impact your visit is specified on the left. You may change your settings at any time. Your choices will not impact your visit.
NOTE: These settings will only apply to the browser and device you are currently using.
GDPR Compliance

source

You May Also Like

DDoS attack hits Ukraine Defence and Bank Networks

The attacks knocked out the Ukrainian defence ministry’s website and two bank…

BitMart hacked in “large-scale security breach”

BitMart, a trusted cryptocurrency trading platform has been the latest to suffer…

SPACE Dynamic Orchestration in the SASE Cloud with Cato Networks

Vice President of Product Marketing at Cato Networks, Eyal Webber-Zvik, representing the…