Ransomware is one of the most sinister types of attacks that cybercriminals have in their ever-expanding arsenal. Ransomware is often delivered by a spear phishing attack and once initiated, it spreads like wildfire throughout a victim’s environment, encrypting everything in its path and rendering anything it touches as inoperative. With virtually no chance of unlocking the advanced encryption used in these attacks, businesses are forced to pay a sizable ransom or hope that their backups can be used to restore operations.
In October 2020, the world’s largest manufacturer of office furniture suffered a devastating ransomware attack, paralyzing its operations for several days. The multi-billion dollar business reported that they “detected a cyberattack on its information technology systems” and “promptly implemented a series of containment measures to address this situation including temporarily shutting down the affected systems and related operations.” These are chilling words for any manufacturer, as time is money, especially in light of the economic challenges caused by an unyielding pandemic. Manufacturing downtime, distribution delays, and technology recovery costs can equate to a significant impact on revenue.
The onslaught against manufacturing and distribution companies is unlikely to stop anytime soon as this industry segment tends to attract cybercriminals looking to cash in on their attacks. Recent security reporting shows that the manufacturing industry is the most targeted industry by phishing attempts and browser exploits, where cybercriminals attempt to leverage operating system vulnerabilities to surreptitiously change system settings. A possible explanation for the propensity of these attacks is the lack of a cohesive cybersecurity approach across the organization that addresses the traditional information technology environment as well as the Internet of Things (IoT) equipment.
Maintaining strong cybersecurity defenses may seem overwhelming during COVID as some businesses do not possess the resources needed to identify and combat these threats. Citrin Cooperman offers a wide array of cybersecurity services to help keep a business safe and secure, including:
With the ever-evolving surge of cybersecurity threats, Citrin Cooperman can help your business stay safe from cyberattacks and avoid becoming that next data breach headline.
For more information, please contact Kevin Ricci.
|Kevin Ricci, MCSE, CISA, CISM, CRISC, QSA