Cyber attack victim firm Loyaltybuild in Clare has €18m loss

Loyaltybuild — the Co Clare firm that was victim to a “very sophisticated cyber attack” plunged into the red in 2014 to record pre-tax losses of €18m. Loyaltybuild Ltd posted a profit of €1m in 2013.

The cyber attack in November, 2013 put Loyaltybuild’s Irish business out of action for seven months and cost the company millions of euro in lost revenues.

As a result of the cyber attack, the Data Protection Commissioner slapped a prohibition order on the firm that stopped it from operating in Ireland for a period of time.