Last week, ransomware puts contracts at risk, big security errors lead to big fines, and the rise of Coronavirus-related phishing scams.
United States – Visser Precision
Visser Precision: Parts manufacturer for space and defense contractors.
Risk to Small Business: 2.111 = Severe:
Visser Precision was infected with data exfiltrating ransomware that stole proprietary information before encrypting IT systems. Based on documents published online, it appears that hackers obtained company data, including a list of clients, nondisclosure agreements, and some development plans. This incident reflects a growing trend in ransomware attacks – cybercriminals are increasingly stealing company data before encrypting critical IT systems, and organizations don’t detect it until it’s too late.
Individual Risk: No personal information was compromised in this breach.
Customers Impacted: Unknown.
How it Could Affect Your Customers’ Business: Ransomware attacks not only negatively impact productivity and manufacturing, they also negatively impact growth. Companies like Visser Precision have many high-profile and mission-critical clients. Cybersecurity incidents can put those organizations at risk, making them less likely to do business with companies that have data security issues.
United States – Riverview Health
Exploit: Accidental data sharing.
Riverview Health: Healthcare provider.
Risk to Small Business: 2.333 = Severe:
On January 14, 2020, an employee inadvertently sent notification letters that intermixed patients’ names and addresses. The messages were delivered to the appropriate addresses, but they included the incorrect patient name. In today’s digital landscape, even small clerical errors can have significant consequences as both customers and regulators look to punish companies that fail to secure personal information.
Individual Risk: 2.714 = Moderate:
Patients’ names and addresses were compromised in the breach. Riverview Health maintains that the risk of data misuse is very low, but victims should still be aware that this information can be used for nefarious purposes and take precautions to ensure that their information is secure.
Customers Impacted: 2,610
How it Could Affect Your Customers’ Business: The biggest threat to your data isn’t cybercriminals, its human error. With customer blowback and regulatory penalties increasing, every organization needs to take steps to mitigate the risk posed by staff mistakes. Implementing protocols and increasing training about the pitfalls presented by phishing attacks and data sharing errors can significantly reduce your organization’s exposure to a data breach.
United States – J Crew
Exploit: Unauthorized database access.
J Crew: Clothing retailer.
Risk to Small Business: 2.111 = Severe:
J Crew identified a data breach that took place in April 2019. In response, the company has disabled all impacted accounts and advised all customers to reset their account credentials. The incident follows cybersecurity lapses at other prominent retailers at a time in which many consumers are shunning companies that don’t secure their information. The lengthy identification and reporting time will likely open the organization up to additional regulatory scrutiny that could further erode its brand reputation and bottom line.
Individual Risk: 2.428 = Severe:
Hackers accessed customers’ account login credentials, email addresses, and passwords. Partial payment card data and order information was also compromised. The company has closed the impacted accounts, but all J Crew customers should take steps to protect their personal information.
Customers Impacted: Unknown
How it Could Affect Your Customers’ Business: With threats coming from multiple directions, every organization must enact strong cybersecurity defenses to ensure that they are ready to address potential threats and keep their clients’ data safe – and avoid the brand-eroding fallout that comes from a cybersecurity disaster. In doing so, they can minimize the consequences of a breach, keep customer data off the Dark Web, and promote rapid recovery.
1 – 1.5 = Extreme Risk
1.51 – 2.49 = Severe Risk
2.5 – 3 = Moderate Risk
*The risk score is calculated using a formula that considers a wide range of factors related to the assessed breach.
In Other News:
60% of UK Consumers Impacted By a Data Breach in 2019
As expected, 2019 was a devastating year for data breach victims. As more year-end studies are completed and released, we’re learning more about who was affected the most. According to a recent report, nearly 60% of UK consumers were impacted by a data breach last year, a staggering total that underscores the personal implications of the more than 7,000 data breaches that affected UK companies in 2019.
The report noted the potential consequences of such an extensive breach environment, including cybercriminals using the sensitive personal and financial information that they collect from users as a gateway to deploy other cyberattack tactics like spear-phishing that can compromise sensitive information, data, and systems even more severely.
Although the number of breaches hasn’t increased significantly, the amount of compromised records has escalated. The number of records that have been compromised has tripled since 2018, surpassing 15 billion this year. This 300% year-over-year increase should encourage companies to seek solutions that can monitor the Dark Web for their data to preempt further hacking attempts. At the same time, training employees to identify and neutralize increasingly sophisticated spear-phishing campaigns is an absolute prerequisite for a capable defensive posture in 2020. https://securityboulevard.com/2020/02/almost-60-of-uk-consumers-affected-by-data-breaches-in-2019/
A Note From Kobargo
Coronavirus Phishing Scams Capitalizing on Fear & Urgency
As concern over the Coronavirus (COVID-19) spreads around the globe, hackers are exploiting the atmosphere of panic and fear created by the pandemic to steal peoples’ personal information. According to a recent report, more than 4,000 Coronavirus-related domains have been registered since the beginning of the year. Experts consider 3% to be outright malicious, and 5% are categorized as suspicious – more than double the usual number. Hackers are likely to target organizations with phishing attacks in an attempt to steer employees toward these malicious sites where they can steal critical data.
The World Health Organization has already issued a warning about Coronavirus-related phishing attacks that purport to be from to their organization, and CISA has released several warnings about the emerging threat of COVID-19 related phishing scams. Taken together, it’s a reminder that while phishing scam awareness training is an effective defense against cybercrime, security education isn’t a static endeavor. It must always adapt to address today’s shifting threats in order to keep your organization a step ahead of tomorrow’s bad actors.
Contact Kobargo Technology Partners to schedule a free consultation today!