Tokyo Marine Insurance Singapore Orbits the Ransomware Storm
What Happened?
On July 31, 2021, Tokio Marine Insurance Singapore (TMiS) found itself in the cross‑hair of a ransomware attack aimed squarely at its internal Windows servers. When the malicious code hit, the company’s IT security systems sprung into action, isolating the infected servers to keep the bad actors from spreading.
Quick Facts in a Dash
- Attack date: July 31, 2021
- Targeted systems: Internal Windows servers
- Containment measures: Servers isolated & system-wide lockdown
- Core insurance ops: No impact reported
- Data safety: No customer or confidential data loss detected so far
- Investigation status: Ongoing forensic testing by external experts
- Regulatory fit‑in: Full cooperation with local agencies and law‑enforcement
- Public disclosure: Official statement released after internal review
- Timeline: None yet; aim for a comprehensive answer
Why the Delay?
The spokesperson for TMiS explained that the company “has been conducting a careful analysis and investigation to confirm the full picture of the case.” This thorough approach has meant the company waited before going public, ensuring that any update they provide will be as accurate and useful as possible.
What’s Next for Customers?
If you’re snipped with concern about your data, reach out to TMiS via their dedicated feedback channels. The firm stands ready to address any questions and will share further details once the investigation reaches a solid conclusion.
In Closing
Thanks to a swift internal response, Tokyo Marine Insurance Singapore appears to have weathered the ransomware hit without any spillover into its core operations or customer information. While the forensic work is still underway, the company’s proactive stance and transparent communication are helping reassure clients that their data remains safe.
Paying isn’t always the best option
Ransomware Woes: How SMBs & Everyday Users Can Keep the Bad Guys at Bay
Corporations? Sure. But You’re Not on the sidelines!
We asked Ian Hall, Head of Client Services for APAC at Synopsys Software Integrity Group, what the little guys can do when the big cloud vaults are getting swiped for millions.
He pointed out that corporations tend to be the headline targets—costs go up to the millions—but you as an end‑user can be stalked just as hard. Ransomware isn’t just about locking files; there’s extortion‑ware that threatens to release private photos or sensitive data.
For the Lone Ranger (You)
- Keep a strong, unique password for every site. Don’t let the same one live on 10 different pages.
- Make sure your system’s software updates are up to date. An outdated operating system is like a sleeping dragon; the next attack will be a—well—hunger for treasure.
- Respect the phishing call. Think of a suspicious email as a road sign that says “Don’t enter.”
For the SMB Squad
Hall says SMBs should start the fight before the potato explodes. Think of it as preventative measures plus robust backups and an incidence response playbook.
Once the threat slips past your early defenses, it’s time to put the playbook into action. You’ll have to decide between two paths:
- Bail out and pay the ransom.
- Dance with the backup—restore your data and rebuild.
In making that decision, consider:
- How long will downtimes be? (A 3‑day outage can hurt a lot more than a $100,000 ransom.)
- What’s the true dollar cost of the downtime?
- Is the ransom figure within your budget?
- Are you confident the attacker will act?
Pay or Not? Hall’s Take
Paying the ransom feels like a “glory” shortcut, but Hall warns that the price tag isn’t the whole story. He pointed out:
- The decryption tool may fail, meaning you recover corrupted files.
- The attackers might fire and forget, leaving you with nothing but a costly bill.
- Every ransom paid feed the evil factory—more attacks are bound to follow.
So, before handing over dough, weigh the risks. And if you’re unsure, backup the heck out of everything.
Original source: Hardware Zone – SoftwareInsuranceCyberattack
