CYBER INCIDENT IN FERRARI.
On March 20, 2023, Ferrari N.V. (NYSE: RACE) reported a ransom demand from a threat actor concerning client contact details. In response, Ferrari initiated an investigation with a leading cybersecurity firm and notified authorities. The company emphasized that it will not pay the ransom, as this would support criminal activities. Ferrari has informed customers about the potential data exposure while affirming that the incident has not affected its operational functions. The firm reaffirms its commitment to client confidentiality and is working to enhance its cybersecurity measures further.
- Immediate action taken with a third-party cybersecurity firm to investigate the ransom demand.
- Notified customers about the potential data exposure, demonstrating transparency.
- Confirms that the breach has not impacted the company's operational functions.
- Ransom demand related to client data raises concerns about data security.
Maranello (Italy), 20 March 2023 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari”) announces that Ferrari S.p.A., its wholly-owned Italian subsidiary, was recently contacted by a threat actor with a ransom demand related to certain client contact details. Upon receipt of the ransom demand, we immediately started an investigation in collaboration with a leading global third-party cybersecurity firm. In addition, we informed the relevant authorities and are confident they will investigate to the full extent of the law.
As a policy, Ferrari will not be held to ransom as paying such demands funds criminal activity and enables threat actors to perpetuate their attacks.
Instead, we believed the best course of action was to inform our clients and thus we have notified our customers of the potential data exposure and the nature of the incident.
Ferrari takes the confidentiality of our clients very seriously and understands the significance of this incident. We have worked with third party experts to further reinforce our systems and are confident in their resilience. We can also confirm the breach has had no impact on the operational functions of our company.
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