Tata Power's IT Infrastructure Hit By Cyber Attack, Says Company

Tata Power Cyber Attack: A cyber attack on the IT infrastructure of Tata Power Company Limited affected several of its IT systems.

Cropped Hand Of Computer Hacker Typing On Keyboard (Representational Image)

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Tata Power said in a official BSE filing statement on Friday that a cyber attack had hit its Information Technology (IT) infrastructure and affected its systems.

"Tata Power Company Limited experienced a cyber attack on its IT infrastructure, affecting some of its IT systems," the statement read.

According to the company, steps have been taken to retrieve and restore the systems.

All critical operational systems are operational; however, as a precaution, restricted access and preventive measures have been implemented for employee and customer facing portals and touch points, it added.

"The Company has taken steps to retrieve and restore the systems. All critical operational systems are functioning; however, as a measure of abundant precaution, restricted access and preventive checks have been put in place for employee and customer facing portals and touch points," Tata Power said in its filing with the stock exchange.

A senior official from the Maharashtra Police's cyber wing said an intelligence input had been received about threat to Tata Power and other electricity companies, news agency PTI reported. 

All the concerned companies have been alerted, the official said, adding that an audit and check of firewalls is underway. 

Shares of Tata Power on Friday ended almost flat at ₹215.90 apiece on BSE against its previous close.

Medibank Private Ltd. of Australian recently detected a potential cyber attack on its network, adding to the growing list of global companies targeted by cybercrime.

It is not surprising that the cost of a data breach has risen to an all-time high in a year marked by significant increases in energy prices and global inflation. The average overall cost, according to IBM's Cost of Data Breaches Report 2022, is $4.5 million (this figure was basically the same whether ransomware was involved or not).

A depressing 83% of the 550 businesses IBM contacted who had had a data breach had also experienced multiple breaches over the same time period. According to the report, breaches where remote working was a factor increased the average cost by about $1 million. Again, the highest average expenses to recover were reported by the healthcare sector. This cost over $10 million.

(With Inputs From Agencies)