INSUBCONTINENT EXCLUSIVE:
Mumbai: IT services provider Cognizant revenue may be impacted by the Maze ransomware attack last week, the company said in a disclosure
and may continue to cause an interruption in parts of our business and may result in a loss of revenue and incremental costs that may
materially from those expressed or implied include the ongoing assessment of the ransomware attack, legal, reputational and financial risks
resulting from cyberattacks, including the ransomware attack, the effectiveness of business continuity plans during the ransomware attack
and the COVID-19 pandemic, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the
affected clients leading the company to rope in law enforcement agencies and outside experts to contain the fallout.
According Beenu Arora,
CEO and co-founder of US-based cyber security company Cyble, this could result in some fresh regulatory, legal and opportunity costs for the
Liabilities from the attack such as the possible leakage of Personally Identifiable Information (PII) could also result in GDPR penalties
damage caused by the security incident would also result in some extent of opportunity cost, he added
expecting lawsuits and claims from customers due to this incident, according to legal experts
actively taking steps to contain this incident
well as other applications required for delivery
issues working on client projects, please notify your Cognizant manager
