GIC Housing Finance Hit by Malware Attack, Launches Investigation
GIC Housing Finance Ltd announced a cyber security incident involving a malware attack on some of its end-user systems, but assured no operational disruption has been observed so far.
Cyber SecurityMalware AttackGic Housing FinanceHousing FinanceIndiaReal Estate NewsJun 20, 2024
The company swiftly isolated the affected systems from the network to prevent further impact. In a statement, GIC Housing Finance assured stakeholders that no operational disruption has been observed so far.
A detailed investigation is currently underway, involving consultation with relevant stakeholders to determine the incident's root cause and implement necessary remedial actions. The company is working to assess the root cause of the attack and take remedial action as necessary.
GIC Housing Finance Ltd is a leading housing finance company that provides home loans and other financial services to individuals and households. The company is a subsidiary of General Insurance Corporation of India and is listed on the Bombay Stock Exchange (BSE).
The malware attack on GIC Housing Finance is a reminder of the growing threat of cyber attacks on Indian businesses. With the increasing use of technology and digital platforms, companies are facing a higher risk of cyber attacks, which can result in financial losses, reputational damage, and operational disruption.
In this context, the swift response of GIC Housing Finance to the malware attack is commendable. The company's prompt isolation of the affected systems and launch of an investigation are critical steps in mitigating the impact of the attack and preventing further damage.
As the investigation continues, GIC Housing Finance will need to work closely with its stakeholders, including customers, investors, and regulatory authorities, to ensure that the incident is fully resolved and measures are put in place to prevent similar attacks in the future.
In the meantime, shares of GIC Housing Finance Ltd ended at ₹250.00, up by ₹3.65, or 1.48% on the BSE, indicating that investors have confidence in the company's ability to manage the situation effectively.
Frequently Asked Questions
What was the nature of the cyber security incident reported by GIC Housing Finance?
The incident involved a malware attack on some of the company's end-user systems.
When did GIC Housing Finance discover the malware attack?
The company's Cyber Security Department discovered the attack on June 19, 2024, at 5:14 PM.
What steps has GIC Housing Finance taken in response to the malware attack?
The company has isolated the affected systems from the network and launched a detailed investigation to determine the root cause of the attack and implement necessary remedial actions.
Has the malware attack resulted in any operational disruption?
No, according to GIC Housing Finance, no operational disruption has been observed so far.
What is GIC Housing Finance's business?
GIC Housing Finance is a leading housing finance company that provides home loans and other financial services to individuals and households.
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