KFC, Pizza Hut Parent Company Discloses Breach After Ransomware Incident

 Yum Brands, the parent company of fast food giants such as KFC, Taco Bell, and Pizza Hut, has sent breach notification letters to individuals affected by a ransomware incident that occurred in January 2023. The company suffered an attack on January 13, leading to the closure of 300 outlets in the UK for a day. While data was stolen from the company's network, the SEC filing shortly after the incident revealed no evidence of customer database theft. However, Yum Brands has now sent a new breach notification letter offering free credit monitoring and identity protection for two years. The fast-food giant has approximately 36,000 employees worldwide, including 23,000 in the US, and runs around 54,000 franchise restaurants globally.

Yum Brands has urged impacted individuals to be vigilant against identity theft and fraud by monitoring account statements and credit reports for unauthorized or suspicious activity. It also warned individuals to be cautious when responding to emails, telephone calls, or other contacts requesting personal or sensitive information, as the company never requests sensitive information by phone or email. The company has stated that there is no evidence of identity theft or fraud involving the breached information.

However, Yum Brands said that it may continue to incur expenses associated with responding to, remediating, and investigating the matter. The company is continuing its investigation into the incident and remains subject to risks and uncertainties due to the data that was taken from its network.

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Yum Brands' breach notification comes as ransomware attacks continue to rise. According to a recent report, the number of ransomware attacks has increased by 300% in the first quarter of 2023 compared to the same period in the previous year. Companies across all industries are under threat, and many are struggling to defend against these attacks.

The cost of a ransomware attack is also on the rise, with a recent report revealing that the average cost of a ransomware attack has doubled in the past year, reaching over $500,000. The costs include not only the ransom payment but also the cost of downtime, lost revenue, and damage to the company's reputation.

In addition to the financial costs, ransomware attacks can also have a significant impact on the affected individuals. For example, stolen data can be used for identity theft, leading to financial loss and other serious consequences. Therefore, it is critical for companies to take steps to protect themselves from these attacks and to respond appropriately in the event of an incident.

One of the key steps that companies can take to protect themselves is to implement strong cybersecurity measures. This includes measures such as regularly updating software and systems, using multi-factor authentication, and conducting regular security training for employees. It is also essential for companies to have a plan in place for responding to a security incident, including a process for notifying affected individuals and providing support to those impacted.

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In the case of Yum Brands, the company's response to the incident appears to have been appropriate. The company has taken steps to notify impacted individuals and is offering free credit monitoring and identity protection for two years. Yum Brands has also urged impacted individuals to remain vigilant against identity theft and fraud and has warned against providing personal or sensitive information in response to unsolicited requests.

In conclusion, the Yum Brands breach notification highlights the ongoing threat of ransomware attacks and the need for companies to take steps to protect themselves and their customers. While the costs of a ransomware attack can be significant, the impact on affected individuals can be even more severe. Therefore, it is essential for companies to have strong cybersecurity measures in place and to respond appropriately in the event of an incident.

Source: https://www.the420.in/kfc-pizza-hut-parent-company-discloses-breach-after-ransomware-incident/