Low sales and dwindling profit are not the only problems for Pakistan Suzuki Motors Company (PSMC). Here is another distressing development: a cyber-attack on the company, leaving the carmaker and other car enthusiasts deeply concerned.
Approximately a week back, reports revealed that a threat actor successfully infiltrated the PSMC server, compromising sensitive corporate data. The episode didn’t conclude here; now, an even more alarming update has surfaced, translating that the perpetrator has allegedly auctioned off the stolen data on the dark web.
The Breach: What Happened?
The compromised data, 447.5 GB (not compressed), comprises a wide array of sensitive information, including HR and employee data, accounting records, financial documents, IT infrastructure details, administrative files, and compliance records.
Moreover, the threat actor has also claimed to posses a trove of additional sensitive materials. This includes sources codes of IT applications, executives’ email archives, SAP and ERP data, internal databases, VoIP records, personal documents like passports, salary details in conjunction with contracts signed with other entities.
Company’s Response
To investigate the matter, PakWheels contacted PSMC’s officials, and what we informed is neither a confirmation of the development nor a denial. When asked about the notification swirling around on social media sites, the company official rubbished the circular citing doubts on its font.
The notification confirms that PSMC has acknowledged the cyber-attack and leakage of corporate data. Also, as per that fake circular, initial investigations have revealed that sensitive information, such as HR records and financial data, has been illicitly transferred to public IP addresses.
Earlier, PSMC reported that it faced significant challenges in 2023, leading to massive losses of Rs. 10.07 billion. The reason behind this hefty loss was primarily a steep decline in sales and high taxation, as reported in the company’s financial results for the year.
The sales decline was drastic, with net sales revenue plummeting by nearly 50% to Rs. 102.11 billion compared to the previous year. The company attributed this drop to being non-operational for much of the year due to inventory shortages.
What are your thoughts about the recent breach threatening PSMC? Tell us in the comments section.
