Business disruption at chocolate manufacturer due to global cyber attack

Synopsis

In June 2017, the world's second largest confectionery company was affected by the global ransomware attack called NotPetya which was an untargeted campaign without a specific intended victim. Many of the impacted companies were infected after downloading a routine update for an accounting application tainted by the attackers.

Employees experienced operational difficulties to the extent that the attack caused a 5% drop in sales that quarter.

The company reported overall related costs as being $180 million, with $84 million spent cleaning up the attack, investigating its causes, removing the malware and restoring their systems and operations.

In early 2019, the company filed a legal case against its cyber insurer regarding its claim for damages incurred from the NotPetya attack which could have far-reaching implications for the cyber insurance industry.

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Analyst

Courtenay Brammar

Experienced global enterprise risk and governance professional. Previously Vice President at Morgan Stanley, Deloitte Risk Advisory practitioner and PRMIA steering committee member in both London and New York.

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