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Canadian Mining Company Faces Cyber Security Breach

Canadian mining company Goldcorp Inc. has confirmed on April 28th, 2016 that the company’s network has been compromised following a massive cyber breach. This makes them the second Canadian gold miner to be hacked since 2015.

Goldcorp Inc. is currently working to determine the full scope and impact of the incident; however 14.8 gigabytes of private employee data, banking information, wire transfers, payroll information, international contacts, employee logins and passwords along with other confidential company documents may soon be flooding through bit torrent sites.

At this point, it is unclear whether the hacking was corporate sabotage, or mere black hat mischief.

The hack of one of Canada’s largest mining companies highlights the fact that this is a key risk facing corporations worldwide. Awareness of cybersecurity risk needs to move beyond corporate IT departments and reach right into the board room. Directors and officers need to make sure they have a risk assessment and contingency plan in place in the event of a cyber security breach.

Organizations with cyber insurance benefit from a greater peace of mind as the policy provides a smooth funding mechanism for recovery from major losses, helping businesses to return to normal and reducing the need for government assistance.

For information regarding Cyber Security & Risk visit:

Rob Lightfoot, B. Sc., CIP 
Mining & Construction Practice Leader
T: 604.331.5463

Original article source: BIV – Another Canadian Gold Miner Hacked

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