Silverlake Axis' IT service provider hit by ransomware attack

FINTECH firm Silverlake Axis said on Thursday that its information technology (IT) service provider's servers have experienced a ransomware attack.

Investigations are ongoing, and the IT service provider is working with a cyber security expert to act on the incident.

Silverlake Axis confirmed that it does not process any information related to the customers of banks, so there would not have been any compromise of bank customer information.

The company's enterprise network is not affected, as the servers that were attacked appear to be those hosted on the Microsoft platform, separate from the enterprise network.

The board of Silverlake Axis said: "The company takes information security seriously and as part of this process, it is conducting a rigorous review of the incident and its systems to ensure that the data it is entrusted with remains safe and secure."

The company will provide further material updates as and when there are new developments.

Silverlake Axis shares closed at S$0.305 on Thursday before the announcement, down 0.5 Singapore cent or 1.61 per cent.