The Swiss watchmaker, Swatch Group, shuts down its IT systems over the weekend in response to the cyberattack targeting its organisation.
The Swiss watchmaker, Swatch Group, shuts down its IT systems over the weekend in response to the cyberattack targeting its organisation.
The Swatch Group Ltd is a Swiss manufacturer of watches and jewellery employing about 36,000 people in 50 countries with $9.6 billion in revenue for 2019. The Group owns the Swatch product line and other brands including Glashutte Original, Blancpain, Harry Winston, Breguet, Omega, Longines, Rado and Tissot.
Swatch Group stated that they detected a cyberattack over the weekend and shut down its IT system to prevent the spreadof the attack.
"The Swatch Group confirms that it has identified clear signs of a developing cyber attack on some of it's IT systems during the weekend. For security reasons the Group immediately took action and shut down some of it's IT systems as a precaution, which affected some operations," the company said in an email statement to the media.
"Swatch Group immediately assessed and analysed the nature of the attack, took appropriate measures, and implemented the necessary corrections. The situation will return to normal as soon as possible. The Group will, of course, file a criminal complaint against X.”
The Group did not provide details of the type of attack they suffered, but experts believe it to be a ransomware attack.
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