How a ransomware attack can ruin a business: The case of KNP Logistics
This is what happened to KNP Logistics, a veteran transportation firm in the UK that collapsed after a major ransomware attack in June 2023. The attack impacted key systems and prevented the company from securing additional investment and funding.
KNP Logistics was one of the UK’s largest privately owned logistics groups, with a history of 158 years. It had about 730 employees, who were all made redundant after the company entered administration.
The cyber attack was so devastating that it outweighed the company’s resilience to other challenges, such as market conditions and the Covid-19 pandemic. The company’s administrators said that the attack caused significant disruption and damaged the company’s financial position.
These cases show the harsh and real consequences of cybercrime, and the need for organisations to improve their defences against attacks. We advise organisations to constantly test and update their systems for vulnerabilities and implement tools that stop intruders from reaching or spreading through their networks.
Ransomware attacks are not only a threat to data and money, but also to livelihoods and businesses. Organisations should take action to prevent ever being placed in this devastating position.
If you are concerned about your organisation’s security and want to learn more about how to protect yourself from ransomware attacks, you can contact us at CyberSolace. We have strong expertise around ransomware defence preparation and response services. We can help you assess your risks, implement best practices, and respond effectively in case of an incident. Don’t let ransomware ruin your business. Reach out to us today for a free initial consultation.
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