Fitch Ratings: Kronos ransomware attack harms healthcare public finance sector

The Dec. 11 ransomware attack on human resources management company Ultimate Kronos Group could present management challenges for public finance organizations — especially in the healthcare sector, Fitch Ratings reported Dec. 21.

The breach affected the Kronos Private Cloud, which includes software platforms for scheduling, timekeeping, payroll and human resources, the company said in a Dec. 13 blog post.

The attack affects healthcare more than other public finance sectors because the company's payroll and workforce solutions systems are very popular in the industry, the report said.

Clinical outcomes should not be affected by the attack, nor will there be any major costs besides finding backup plans to track hours and pay workers, the report said. However, the breach comes at a difficult time while hospitals deal with COVID-19 surge, it added.

The American Hospital Association urged third-party providers that serve healthcare clients to survey cyber readiness, response and resiliency in a Dec. 14 statement.

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