Massive Ransomware Attack Hits TPS Worldwide in Pakistan

TPS Worldwide, a major card processing company serving banks, telcos, and financial institutions in Pakistan, experienced a powerful ransomware attack late last night. According to the sources, the attack was swiftly mitigated, with no financial losses incurred. The full details of the ransomware attack are still emerging. The good part of the news is that TPS’s prompt response successfully contained and controlled the attack, preventing any financial damage.

TPS Worldwide Thwarts A Significant Ransomware Attack

For all those unfamiliar, TPS Worldwide was founded in 1996. It offers a broad spectrum of services, including card processing, payment gateways, and payment clearing, to various clients. This incident highlights the critical importance of robust security measures for financial institutions, which are major targets for cyberattacks due to their handling of sensitive financial data and transactions.

Reports claim that a forensic investigation is likely underway to determine the source and nature of the attack. According to a press statement from 1Link, which relies on TPS for its payment processing services, no customer data was compromised. Moreover, the breach was limited to TPS’s internal servers. The statement reads:

“Similarly, there was no breach of any of TPS’s customers connected through 1LINK, and the impact has been restricted to its internal servers”

TPS has notified its partners to review the latest security patches provided by TPS. Moreover, they have been suggested to conduct thorough scans of their environments to ensure heightened vigilance. There have been no further details about this incident yet. Stay tuned as we will update you once more information becomes available.

Check Out: Pakistan-Linked Hackers Launch Cross-Platform Malware Attacks on Indian Targets

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Laiba Mohsin

Laiba is an Electrical Engineer seeking a placement to gain hands-on experience in relevant areas of telecommunications. She likes to write about tech and gadgets. She loves shopping, traveling and exploring things.

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