Australian Steel Manufacturer hit by Recent Cyberattack

BlueScope Steel, an Australian steel manufacturer, has been the victim of a recent cyberattack that has affected some of its operations, including operations based in its home-country of Australia.

BlueScope has stated that the online incursion was spotted at one of its United States businesses and subsequently spread to segments of its global operations.

The manufacturing and sales operations have impacted in Australia as a result of the US-based cyber-attack, BlueScope announced on Friday.

Tania Archibald, the Chief Financial Officer of BlueScope Steel has stated in response that “We are taking this event extremely seriously.” Staff are reportedly working hard to restore BlueScope’s online systems.

Manual workarounds have been encouraged as an alternative to online automated processes, but unfortunately full functionality will not be restored to the company until the damage from the cyber-attack has been mitigated fully.

The team at Tower take cyber-security to be one of the most important aspects of our responsibility both to companies that work with us and, indeed, in keeping our amazing algorithm’s secrets kept as securely as is possible in the online world.

Our software is the end-product of years of evolution, and is designed to mitigate risk while out-performing our peers in terms of how much yield can be potentially produced at the lowest possible drawdown for the index the algorithm is applied to.

Equally important is our focus as a company to make sure any and all data we work with as we communicate with firms and funds that use our technology, is treated with the most diligent care and respect so as to not have any information leak out to third parties and malicious entities.

As a company that has a largely online presence, cyber-security is always of highest concern to Tower Technology, and is something the team will often address daily with an aim to become one of the most secure technology companies in the finance space.