TIC International Corporation Suffers Ransomware Attack

TIC International Corporation, a consulting and third-party administration firm specializing in multiemployer health care, defined benefit pension, and defined contribution/401(k) plans, has been targeted by the ransomware group Conti. The attack was announced on the group's dark web leak site, and the victim's website is accessible.

Headquartered in Carmel, Indiana, TIC International Corporation provides comprehensive service solutions for employee benefit plan trustees. These services include plan design, funding, eligibility testing, claim adjudication, benefit payment, FASB ASC 965 (formerly SOP 92-6), COBRA, HIPAA, SPD's, QMCSO's, or QDRO's.

The company's size and industry positioning make it a valuable target for threat actors. As a consulting and third-party administration firm, TIC International Corporation likely handles sensitive data and financial information for its clients. This data could be valuable to ransomware groups, who often demand payment in exchange for not releasing the stolen information.

The attack on TIC International Corporation underscores the importance of robust cybersecurity measures for companies in the business services sector. Ransomware attacks can cause significant disruption and financial damage, and organizations must be proactive in protecting their systems and data.

Sources

• TIC International Corporation. (n.d.). Retrieved April 10, 2024, from https://www.tici.com/.
• ResearchGate. (n.d.). Phishing Detection: Analysis of Visual Similarity Based Approaches. Retrieved April 10, 2024, from https://www.researchgate.net/publication/312205924_Phishing_Detection_Analysis_of_Visual_Similarity_Based_Approaches.
• Cybersecurity & Infrastructure Security Agency. (n.d.). Ransomware. Retrieved April 10, 2024, from https://www.cisa.gov/ransomware.
• Cybersecurity & Infrastructure Security Agency. (n.d.). Ransomware Prevention. Retrieved April 10, 2024, from https://www.cisa.gov/ransomware-prevention.