May 27, 2021
When bad actors initiated a ransomware attack on the Colonial Pipeline network earlier this month, panic-struck consumers emptied gas pumps across the Southeast. The pipeline, a critical infrastructure resource, ultimately paid attackers a $5 million ransom to get back online.
Ransomware operates by infecting a private network, then accessing and encrypting sensitive data. The affected organization must pay a fee to regain access to data or otherwise risk the attackers releasing it publicly and compromising data security.
DarkSide, a group of developers and cybercriminals, carried out the ransomware attack on the Colonial Pipeline. Those executing these types of attacks primarily use phishing to trick users into clicking links infected with the ransomware. DarkSide has publicly stated they target institutions with the ability to pay large sums of money versus less wealthy entities like schools, hospitals, and nonprofits.
Because ransomware developers have made it known they prefer to target highly profitable organizations and firms in the financial industry, your firm may be at increased risk of an attack. Here are some proactive steps you can take to decrease the possibility of a successful ransomware attack on your business:
WHAT DOES THIS MEAN FOR ME?
When it comes to ransomware attacks, the biggest threat to your network is human error. Training employees to recognize phishing attempts and taking measures to ensure malicious emails never reach end users are two easy ways to secure your network. One wrong click could jeopardize your firm’s data security.
Because businesses in the financial industry may be more likely to be targeted by phishing, your firm should act now to prevent data compromise. Fairview Cyber can help your firm with essential cyber and data security services like phishing prevention training, network penetration testing, vendor due diligence, and more. Contact us today for more information about our services.