The Dewan Farooque Motors Limited (DFML) has said that it has suffered a severe cyber-attack that has led to significant corruption of its corporate data and a crash of its IT servers.
“We regret to inform you that owing to malware and cyber-attack our IT servers have crashed and data have been corrupted badly, resulting in postponing the board meeting,” the automaker said in its notice to the Pakistan Stock Exchange on Friday.
A cyber-attack is defined as an assault by cybercriminals that targets one or more computers or networks, potentially leading to the disruption of services, data theft, or the use of compromised systems to launch additional attacks.
In the notice, DFML referenced a previous communication dated November 26, 2024, regarding the rescheduling of a Board of Directors meeting originally set for November 28, 2024.
The DFML has alerted its stakeholders that the recovery of its information systems and financial data, including records for the first quarter ending September 30, 2024, would require significant time.
In light of this situation, the company has announced the postponement of its Board of Directors meeting until the data restoration is complete. A new date for the meeting would be communicated at a later time.
It expressed its “sincere regret” for any inconvenience this may cause to its stakeholders.
Also, read this
Army top brass underscores need for stringent cybersecurity measures
In the wake of this announcement, DFML’s share price fell to Rs38.44, marking a decline of Rs. 1.34 or 3.37%.
In a recent incident, Pak Suzuki Motor Company reported that its corporate data was compromised during a cyber-attack in April. The company revealed that preliminary investigations indicated that sensitive information, including human resources and financial data, had been exposed to a public IP address.
In response to the breach, PSMC has engaged a security consultant to conduct a thorough forensic assessment and to address any potential security vulnerabilities in its infrastructure.
