NEWS
18/06/2018 06:25 SAST | Updated 18/06/2018 06:25 SAST

Libery Hack: No Clients Suffered Financial Losses - CEO

Liberty admitted on Saturday that it was hacked and that the hackers tried to extort money from the firm.

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There is no evidence that the hacking of insurer Liberty compromised any client files, its CEO David Munro said on Sunday. According to Business Day, Liberty had regained control of its IT systems by Sunday, following a cyber attack on Thursday.

Munro reportedly said criminals hacked into an email server and removed some messages sent recently and possibly some attachments. But there was no evidence that client files were taken, he reportedly said.

Munro reportedly said the company did not concede to any money changing hands.

According to Business Report, Munro said on Sunday that they were at an advanced stage of investigating the hack.

"We have engaged with the external parties to determine their intentions and we made no concessions in the face of this attempted extortion. We are at an advanced stage of investigating the extent of the data breach; so far it seems to be largely emails and possibly attachments".

On Saturday, Liberty sent an SMS to its clients confirming that they had been hacked and that the hackers wanted money.

"Dear Valued Customer, Liberty regrets to inform you that it has been subjected to unauthorised access to its IT infrastructure, by an external party who requested compensation for it.

"Since becoming aware – we have taken immediate steps to secure our computer systems and are investigating the incident. We are giving this matter the highest priority and will keep you informed as appropriate," the insurance company said.

According to the Sunday Times, the hackers wanted millions from the company to avoid the release of data belonging to "top clients". But Munro said that from Liberty's investigations so far, it appeared as though no clients had suffered any financial losses.

He reportedly said clients would be contacted individually if it was discovered that they had, Fin24 reported.

According to Business Day, the insurance industry is on high alert. Sanlam CEO Ian Kirk reportedly said the company's IT team was working around the clock to prevent something similar hacking.