Although the company said an early investigation "shows no indication that any personal or customer data has been compromised" Travelex has resorted to carrying out transactions manually.
Susan Hall, a specialist in information and communications technology at Clarke Willmott LLP , told Lawyer Monthly the company’s response to the attack has been spot on and other businesses should take note.
Initial indications suggest that Travelex are doing the right thing. Businesses, particularly ones in the financial services sector, have to be prepared to be the focus of a cyber-attack, and this is an example, working through in real time, of what seems to be a disaster recovery plan swinging into operation.
There is a manual alternative to keep services running, clear communication to the public and reassurance about data security.
It’s particularly admirable since it’s multinational and occurring at a time where there are likely to be a lot of people off on holiday.
Make sure that communications come from a senior source who acts as the company spokesman.
Travelex has demonstrated a good model of practice and its model gives us a five-point plan for businesses to protect themselves in similar circumstances.
