The company LaserPayment, a provider of payment solutions to numerous financial institutions, is facing a large-scale cyberattack with cascading repercussions for its clients.
LaserPayment’s spokesperson announced this morning that the cause of the incident has been identified: a security vulnerability at one of its subcontractors, XTSPayment, based in the Philippines. “Our teams are working closely with the authorities and cybersecurity experts to contain and eradicate the threat.”
This attack highlights the vulnerability of digital supply chains and the importance of third-party risk management. LaserPayment states it has cut off compromised access and strengthened its control measures to prevent any further intrusion.
Cybersecurity authorities have been alerted and an investigation is underway to assess the extent of potentially compromised data. LaserPayment is committed to strengthening its cybersecurity policy and to communicating regularly on how the situation evolves.
CyberDigitalNews will continue to follow this case and relay key information as it becomes available.