An Australian technology firm, Seeing Machines, is examining claims of a potential cyber incident.
Seeing Machines confirmed it is investigating assertions made by the Qilin ransomware group, which recently named the company on its darknet leak site. “We are aware that a third party has named our company online in connection with claims that some of our data has been accessed. We have taken appropriate steps to respond to these events and are investigating this claim as a matter of priority,” a company spokesperson told Cyber Daily.
The company said it has not detected further related activity and continues normal operations. It also noted that monitoring measures are in place to identify any new developments. “We are also liaising with the relevant authorities in response to the claim, alongside various experts across the cyber security industry,” the spokesperson said. The ransomware group has not published evidence to support its claim, and details regarding the scope or nature of any potential compromise remain unclear. Seeing Machines, founded in 2000 following work with the Australian National University, develops vision-based monitoring systems used in transport and other industries. Its client base includes organisations across aviation, automotive, and infrastructure sectors.
Qilin, which emerged in 2022, operates a ransomware-as-a-service model that enables affiliates to deploy attacks in exchange for a share of proceeds. The group has reported a high volume of claimed victims in recent months relative to other operators. However, not all claims attributed to the group have been substantiated. In some cases, listings have appeared without accompanying data disclosures or verification. Industry observers have noted that some threat actors may identify unsecured data repositories and attempt extortion without full system compromise, although confirmed breaches linked to ransomware groups continue to occur. Such uncertainty can complicate early-stage incident assessment, particularly when limited technical information is available.
Recent figures from the Australian Signals Directorate’s (ASD) Australian Cyber Security Centre (ACSC) indicate that cyber incidents remain a persistent issue for organisations. In the 2024-25 financial year, the ACSC handled more than 42,500 calls through its cyber security hotline, up 16% from the prior year. It also responded to over 1,200 cyber incidents and issued more than 1,700 alerts relating to potentially malicious activity. Reported financial impacts have also risen. Businesses of all sizes recorded higher average losses per incident, with the largest increases observed among large organisations. Small and medium-sized enterprises also reported notable cost increases.
Ransomware incidents accounted for 11% of cases managed by the ACSC, while denial-of-service attacks increased significantly compared with the previous year. Identity-related crime remained the most frequently reported category. The agency said threat actors continue to exploit weaknesses in internet-facing systems and use stolen credentials sourced from online marketplaces. It also noted that advances in artificial intelligence may enable attackers to scale operations more efficiently. Critical infrastructure entities were among those receiving notifications of potential cyber threats, reflecting continued targeting of sectors that support essential services.
Market data suggests that organisations are responding to the threat environment by increasing investment in cyber security, a trend expected to influence insurance demand and underwriting practices. According to research by Marsh, 66% of organisations plan to raise cyber security spending, with more than a quarter indicating increases of at least 25%. At the same time, nearly 75% of respondents reported confidence in their existing cyber risk management frameworks. Global cyber insurance premiums are projected to continue growing, supported by both rising demand and expanded insurer capacity. These dynamics are expected to contribute to more differentiated underwriting approaches, with insurers placing greater emphasis on risk selection and control effectiveness.
Organisations with established cyber security measures may be better positioned to secure favourable terms. Brokers and advisers are also expected to support clients in strengthening controls, preparing for incidents, and navigating coverage options. Small and medium-sized enterprises remain an area of potential growth, as coverage uptake in that segment continues to develop. The situation involving Seeing Machines remains under review. However, it reflects broader trends in cyber risk that insurers and corporate risk managers continue to monitor as part of their exposure assessment and response planning.
