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The PwC Unfortunately Hit by a Notorious Russian Cyber Attack

PwC, a global professional services network, has been caught up in a Russian cyberattack. The cyberattack targeted manufacturers and supply chains, which are being increasingly targeted by cybercriminals.

Key Points

  • PwC was caught up in a Russian cyberattack, by a notorious group named CL0P.
  • The core of the cyberattack was around the app MOVEit, a third-party software platform that is widely used by organizations.
  • Australia’s Crown Resorts also faced a similar cyber attack.

PwC Australia recently, has found itself entangled in a web of cybercrime, becoming the latest victim of a notorious Russian hacking group. The group, known as CL0P, has become infamous for its ransomware tactics and has recently gained access to sensitive information from several well-known companies and organizations.It all started with a flaw in MOVEit, a third-party software platform that is widely used by organizations to transfer sensitive data between different parties. This gave the cybercriminals an opportunity to infiltrate the system and get their hands on confidential information from dozens of organizations.

Unfortunately, PwC Australia was one of those organizations, and it has undoubtedly been a challenging time for them as they try to navigate the aftermath of the attack. However, they are not alone in this, as many other companies have also been affected, highlighting the growing threat of cybercrime and the importance of staying vigilant against it.

About the Russian Cryberattacks 

A few days ago, the CISA acknowledged an attack that had infiltrated several state and federal government departments within the United States. The severity of the attack raised concerns regarding the resilience of government agencies and their ability to withstand future attacks. But the chaos didn’t just stop at the United States. A flurry of UK-based organizations, including the likes of the BBC, energy group Shell, and British Airways, also fell prey to the hacking mayhem.

The Australian Financial Review initially reported PwC’s involvement in the hack, and on Monday, the company validated that they had used the MOVEit software to transfer specific information. As per a PwC Australia spokesperson, “We are aware that MOVEit, a third-party transfer platform, has experienced a cybersecurity incident which has impacted hundreds of organizations including PwC. PwC uses the software with a limited number of client engagements.” 

The hack has been a wake-up call for both governments and businesses worldwide to strengthen their cybersecurity measures, leaving us to ponder whether we’re ready to withstand a potential digital catastrophe.

“As soon as we learned of this incident we stopped using the platform and started our own investigation.”

According to PwC, their preliminary inquiries indicate that the cyberattack on MOVEit had a restricted impact on PwC, and their internal IT network remained uncompromised.The PwC representative stated that they have contacted the few clients whose data was affected to address the matter.

Australia’s Crown Resorts facing Similar Attacks 

Earlier, Australia’s Crown Resorts also faced a similar cyber incident back in March when a ransomware group hacked into a third-party file transfer service called GoAnywhere. Crown Resorts confirmed that the hackers illegally obtained a limited number of their files, but no customer data was compromised, and their business operations remained unaffected. However, in April, a small number of files were released on the dark web, including employee time and attendance records and some membership numbers from Crown Sydney.

PwC is currently grappling with the aftermath of a tax scandal that erupted when one of its partners was barred from tax practice in January for leaking confidential information on government plans to tackle tax avoidance. The information was shared with over 60 partners and staff, and marketed to companies that could potentially be impacted by the tax plans. As a result of the scandal, ten partners have either stepped down or resigned, and PwC has been effectively banned from further government work.

End Note

PwC Australia has found itself in the middle of a cybercrime fiasco, becoming the latest target of a notorious Russian hacking group. The group, known as CL0P, has gained notoriety for their ransomware tactics and has recently accessed confidential information from multiple well-known companies and organizations.

The whole ordeal began with a vulnerability in MOVEit, a third-party software platform that is commonly used by organizations to transfer sensitive data. This provided the perfect opportunity for the cybercriminals to infiltrate the system and obtain confidential information from numerous organizations. The situation has left many wondering about the security measures in place and the safety of their private data.