Tietoevry’s swift response to cybercrime: A lesson in digital resilience

Tietoevry's swift response to cybercrime: A lesson in digital resilience

Tietoevry, a prominent FinTech services provider, faced a severe ransomware attack on one of its data centers in Sweden in the early hours of January 19-20.

This cyber assault was not only a significant disruption for Tietoevry but also impacted its multitude of customers across various industries, marking a visible dent in Swedish society. The company has expressed its deep regret for the inconvenience and challenges this criminal activity has caused to its customers and wider society.

In the face of adversity, Tietoevry has demonstrated commendable resilience and determination. The company has been working tirelessly to restore affected customer services. As of now, the technical system restoration is nearly complete, with a 97% achievement, while the recovery of customers’ full services lags slightly behind at 83%. This discrepancy highlights that certain customer-specific cases are proving to be more challenging, requiring Tietoevry to prioritize these situations to ensure complete service recovery.

Tietoevry’s response to the ransomware attack has been thorough and multifaceted. Immediate actions were taken to assess potential vulnerabilities and secure the operations against further threats. This included an in-depth security verification and large-scale data analysis by the company’s experts. Additionally, Tietoevry engaged third-party specialists for forensic analysis to solidify their findings and understand the attack methodology better. These efforts are ongoing, with findings being regularly shared with the relevant authorities.

The company’s CEO, Kimmo Alkio, has publicly addressed the incident, stating, “It has been disheartening to see the challenges our customers, many other entities as well as individuals have faced as result of the criminal attack, and I sincerely apologize for this. It is also distressing to get a first-hand validation that we are living in “a new normal” where cybercrime is growing in numbers and potential impact. The advancements in digitalization and technology that come with many benefits to businesses, individuals and societies, are unfortunately also providing new tools for the cybercriminals.”

In his remarks, Alkio underscored Tietoevry’s commitment to being at the forefront of digital security, recognizing the importance of adapting to the evolving landscape of cyber threats. This involves not only addressing the current situation but also making broader cybersecurity investments to strengthen the company’s defences against future attacks. Alkio’s call to action for a collective effort in combating cybercrime reflects the seriousness with which Tietoevry approaches its responsibility towards ensuring the digital security of its customers and society at large.

Due to the sensitive nature of the information and to maintain security and customer confidentiality, Tietoevry has refrained from sharing specific details about the technical aspects of the attack or information related to affected customers. The company remains committed to upholding its contractual obligations and ensuring the confidentiality of its clients.

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