Sam Lewis reports:
It has been revealed that high-end British jeweller Graff paid out a ransom fee topping £6 million in a well-publicised cyber attack last year.
It emerged in November 2021 that Graff had been the target of Russian hackers who had gained possession of data pertaining to many of Graff’s high-profile customers.
The incident is back in the news now because Graff is suing its insurer, The Travelers, for its refusal to reimburse for the ransom Graff paid to secure Conti’s promise not to leak data on its high-end clients.
Because many entities might rely on, or think that if they pay ransom, they will be covered by their insurance, this sounds like a case to watch.
Read more at Professional Jeweller.