The National Privacy Commission is verifying reports the Gokongwei-led JG Summit Holdings has fallen prey to a ransomware attack, compromising 300 gigabytes of its data.

“We are waiting for verification from the Compliance Monitoring Division if there’s a notification (from the company),” the NPC communications team said in a Viber message.

Cybersecurity group Deep Web Konek on Thursday posted on its Meta (Facebook) account that JG Summit Holdings, one of the largest conglomerates in the Philippines, has been struck by a ransomware attack by the cybercriminal group RansomHub.

“The attack has led to the encryption of data on more than 40,000 computers within the company’s network,” it said.

In terms of RansomHub’s threats, it said that JG Summit suffered “further encryption, data shredding, and secure delete functions if demands are not met.”

“RansomHub’s public statement indicates frustration over being ignored by JG Summit, warning of additional attacks if their demands aren’t addressed,” it said.

JG Summit is a notable player in various sectors, including air transport, banking, food manufacturing, hotels, petrochemicals, power generation, publishing, real estate, property development, and telecommunications, with reported revenues of $6 billion, the group said in an 8 August post.

In its statement, JG Summit said they were aware of circulating reports of a possible cybersecurity attack.

“We are working closely with our cybersecurity experts and partners to proactively investigate and assess the situation,” it added.

The company said that it had activated all response protocols and implemented enhanced security measures to ensure data protection, adding that its business operations continued as normal.

“We take this matter very seriously. We recognize that many organizations have faced similar challenges in the current cybersecurity landscape. And, therefore, protecting our data and maintaining the trust of our stakeholders remain our top priority,” the company said.