Ransomware Attack on London & Zurich Sparks Financial Disarray, Service Outages Persist

London & Zurich, a direct debit collection company, grapples with the aftermath of a ransomware attack that has caused severe financial disruptions and prolonged service outages. The incident, commencing on November 10 and officially confirmed as a ransomware attack four days later, has left customers unable to process the majority of direct debit payments, resulting in significant backlogs and financial chaos.

The media was alerted to the situation by affected sources, shedding light on the crisis unfolding since the attack. The direct impact has been extensive, with one UK-based managed service provider accumulating a backlog surpassing $124,000, unable to restore normal operations promptly.

Customers faced communication challenges and uncertainty as London & Zurich’s status updates conflicted with the information communicated via emails. Confusion arose regarding the timeline for the restoration of services, exacerbating the situation.

The outage’s duration has inflicted severe financial strain, particularly for businesses reliant on consistent cash flow. The inability to collect payments has disrupted crucial financial obligations, compelling some customers to explore short-term loans as a stop-gap measure.

While London & Zurich acknowledged the ransomware incident, crucial details, such as data compromise, attack specifics, or perpetrator identification, remained undisclosed. The company initiated investigations with cybersecurity experts, aiming to contain and rebuild the impacted servers in a new environment.

As of November 22, uncertainties lingered regarding the restoration timeline, despite London & Zurich’s commitment to restoring full functionality by the end of the week. The company’s attempts to communicate progress and recovery plans have been marred by ambiguity and delayed updates, exacerbating frustrations among affected customers.

Notably, the incident has impacted scheduled payments dating back to November 8, requiring resubmission. Despite efforts to address the issue, affected services, including the customer portal, continue to face operational challenges.

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