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Ransomware is an undeniably major threat to businesses around the world today. Do you think that’s an exaggeration?
On Monday, Oct. 14, Alphabroder announced that it had been the victim of a ransomware attack. Despite the many security parameters they had in place, cybercriminals were able to penetrate their systems.
“No customer data or account information has been compromised or is accessible by this malware,” Alphabroder said in an official statement. According to their Chief Marketing Officer David Clifton, the ransomware attack only affected their ability to process orders.
Alphabroder was infected with a type of ransomware known as SODINOKIBI, a notoriously difficult to detect malware. According to Malwarebites, this type of ransomware targets all files except those listed in their configuration file, including .jpg, .jpeg, .raw, .tif, .png, .bmp, .3dm, .max, .accdb, .db, .mdb, .dwg, .dxf, .cpp, .cs, .h, ,php, .asp, .rb, .java, .aaf, .aep, .aepx, .plb, .prel, .aet, .ppj, .gif, and .psd.
As a business with more than $1.5B in annual revenue, one would assume Alphabroder would have appropriate security measures in place to protect against malware. And according to Clifton, they do.
“Unfortunately, it’s a sophisticated malware, and was able to work around those protections,” Clifton told Counselor.
The primary lesson here is that if a business as big as Alphabroder can get hit by ransomware, so can you. You have to assume you’re defenses could be penetrated – what will you do if it happens? Do you have contingencies in place to protect you in the event of a ransomware infection?
Unfortunately, no. Ransomware is just one of the primary threats posed to your business, but there are others…
CEO Fraud is a scam where cybercriminals spoof company email accounts and impersonate executives to try and fool employees into executing unauthorized wire transfers or sending them confidential tax information. It takes aim at personally identifiable information, rather than merely tricking accounting staff into scheduling fraudulent wire transfers.
This is a form of Business Email Compromise (BEC) where a cybercriminal impersonates a high-level executive (often the CEO). Once they convince the recipient of the email (employee, customer or vendor) that they are legitimate, they then attempt to get them to transfer funds or confidential information.
Key examples include:
Phishing is a method in which cybercriminals send fraudulent emails that appear to be from reputable sources in order to get recipients to reveal sensitive information and execute significant financial transfers.
The average phishing attack costs businesses $1.6 million. The problem with the rising tide of cybercrime incidents (e.g. the rate of phishing attacks increased by 65% in recent years) is that you get desensitized to the whole thing.
Types of phishing include:
Ask for help – Acapella Technologies will help implement robust security measures, deploying security devices like firewalls, patching, antivirus software updates, intrusion and gateway protection, to name a few.
Furthermore, we will support your cybersecurity processes and practices, by implementing 2-factor authentication, employee security training, and password reset policies for your company.
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