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Feb 11, 2019 9:35 AM ET

Olympia Financial Group Inc. Announces Ransomware Cyber Attack


iCrowd Newswire - Feb 11, 2019

CALGARY, Alberta,  — Olympia Financial Group Inc. (“Olympia”) (TSX: OLY) announces that on February 2, 2019 it was subject to a ransomware cyber attack on its information technology systems. The malware used to perform the attack encrypted electronic data stored on Olympia’s network so it cannot be read or used. Olympia is still investigating the extent of the attack, but it is anticipated that Olympia’s business operations will be adversely affected for several days while it re-establishes its systems.

At present time there is no evidence that customers’ personal information was compromised as a result of this attack, however investigations in this regard are ongoing. Should findings dictate, Olympia will notify the impacted clients immediately. It should be noted that cybersecurity measures are in place to limit the nature of customers’ personal information available as a result of any unauthorized access of Olympia’s network.

Upon detection of the attack, Olympia immediately implemented countermeasures to prevent further infection in accordance with Olympia’s established cybersecurity policies that have been developed and implemented in consultation with industry leading cybersecurity specialists. Olympia has also contacted the RCMP Cybercrime division with respect to this attack and has enlisted help from several malware response and recovery industry specialists.

Olympia is committed to utilizing all available means to protect its operations and customers’ personal information. Olympia will continue to invest in its information technology networks and security to detect and minimize the risk of unauthorized activity in this age of ever growing highly sophisticated information security threats.

About Olympia Financial Group Inc.

Olympia Financial Group Inc. (“OFGI”) conducts most of its operations through its wholly-owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts, provides foreign currency exchange services and Corporate Shareholder services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc. and provides information technology services to exempt market dealers, registrants and issuers through its subsidiary Exempt Edge Inc.

OFGI’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.

Contact Information:

Olympia Financial Group Inc.
Rick Skauge, President and Chief Executive Officer
Gerhard Barnard, Vice-President, Finance and Chief Financial Officer Phone: (403) 261-0900
Fax: (403) 265-1455








Tags:    Wire, Cybersecurity Newswire, North America, English