Volvo Hit by Cyber-thieves
Yesterday, Volvo confirmed a cybersecurity breach in which an undisclosed amount of data was stolen. According to reports, the Swedish car manufacturer had research and development secrets stolen by an unknown third party during a cybersecurity incident. Therefore, the quantity of data stolen in the incident was small but its loss may have a large impact on the company’s operations. It is unclear when the attack took place, when Volvo noticed the attack, or how long it continued. Volvo shared limited information about the breach.
Volvo launched an investigation into the incident and offered little information about its findings so far, stating only that a limited amount of the company’s R&D property was stolen. Relevant authorities in Sweden have been notified of the incident, says Volvo. Although the investigation remains ongoing, the car manufacturer stated that there was no evidence that customer or staff personal information was compromised during the breach. Volvo boasts multiple production plants around the world and research and development (R&D) locations spread across the US, China, and Europe.
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