Smartpay Holdings, a payments solutions provider based in New Zealand, disclosed that it had fallen victim to a ransomware attack, adding to the growing number of cyberattacks in the region and Australia.
Following an investigation, Smartpay confirmed that customer information from its systems in Australia and New Zealand had been stolen. In response, the company enlisted the services of cybersecurity specialist CyberCX and is collaborating with the government to address the incident. Despite the attack, Smartpay assured its customers that they could continue using its payment platforms and terminals without disruption.
As news of the ransomware attack spread, Smartpay’s shares experienced a slight decline, trading 0.3% lower. The company’s fiscal 2022 performance showcased its significance in the payments industry, as it processed over 78 million transactions valued at NZ$2.7 billion ($1.68 billion), representing an impressive 80% increase compared to the previous year.
Unfortunately, this attack adds to the flurry of cyberattacks targeting companies in Australia and New Zealand over the past ten months, with notable breaches affecting Medibank Private Ltd. and SingTel’s Optus.
The incident serves as a reminder of the ongoing threat posed by cybercriminals and the need for robust cybersecurity measures. Smartpay’s prompt response in engaging a cybersecurity specialist and collaborating with government authorities demonstrates a proactive approach to mitigating the impact of the attack.
While the company’s customers can continue using its payment platforms and terminals as usual, the breach highlights the importance of maintaining vigilance and implementing stringent security protocols to safeguard sensitive customer data.
