Goldcorp hack underlines rise in cyberattacks on corporations – by Ian McGugan (Globe and Mail – April 29, 2016)

A computer attack on Goldcorp Inc. has resulted in a data breach, highlighting the growing propensity of criminals to target confidential corporate information.

David Garofalo, chief executive of Vancouver-based Goldcorp, said he has handed the matter over to police. “At this point, it’s a criminal matter,” he said. “Our systems are secure, our business is running normally. We don’t pay criminals.”

Mr. Garofalo said he couldn’t comment on the specifics of the case because of the police investigation, but indicated that Goldcorp was not unique in being targeted by such cyberassailants. “My understanding is that they target a lot of companies,” he said. “They do it for money. In that case, the answer is obvious to me – you don’t pay criminals and then you call the police.”

He said he was disturbed by the release of personal information, but was not as concerned about potentially important corporate information being leaked. “From a public company standpoint, we have to have everything that’s material in the public domain anyway,” Mr. Garofalo said.

Goldcorp, which held its annual general meeting on Thursday, employs more than 15,000 people and operates mines in Canada, Mexico, and Central and South America.

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