U.S. Shipping giant FedEx has joined the list of well-known brands that have lost hundreds of millions of dollars after their IT systems were infected with NotPetya ransomware back in June.

FedEx latest earnings call claims it would be down $300 million following the ransomware outbreak that impacted tens of thousands of victims across 65 different countries.

The company claims that its subsidiary, TNT, bore the brunt of the attack.

In a statement from the recent earnings call, FedEx claims, “The worldwide operations of TNT Express were significantly affected during the first quarter by the June 27 NotPetya cyber-attack. Most TNT Express services resumed during the quarter and substantially all TNT Express critical operational systems have been restored. However, TNT Express volume, revenue, and profile still remain below previous levels.”

FedEx is not alone in its suffering, as several huge organizations have also reported significant losses following the NotPetya attack. Pharmaceutical giant, Merck, revealed that a devastating cyber attack distributed its global operations, including manufacturing, research, and sales. In addition, the Danish shipping giant, Maersk, estimates the NotPetya attack cost it between $200 and $300 million.

These significant losses should serve as a warning to organizations that are still vulnerable to attacks like NotPetya. We suggest implementing a sophisticated Breach and Host Intrusion Detection solution that will forensically evaluate normal operations within your IT systems and applications and alert you of unauthorized or suspicious changes that could be potential malware like NotPetya.


Read the article on InfoSecurity Magazine








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