20 Sep Security Breach – 20 Sep 2024
Implementing an effective ransomware detection practice empowers businesses and individuals to better safeguard their digital assets and maintain productivity. Early detection acts as a crucial deterrent against the potential damage a ransomware attack can cause. By identifying malicious activity in its initial stages, users can swiftly initiate containment measures, preventing the widespread encryption of files and minimising the impact on critical systems. It’s a proactive step to ensure the protection of valuable data while reducing the likelihood of falling victim to ransom demands, curbing financial losses and preserving the overall integrity of an organisation’s IT infrastructure.
The benefits of ransomware detection also go beyond immediate incident response — it reaches out to long-term risk mitigation. Detecting and thwarting ransomware attacks helps organisations fortify their cybersecurity posture, fostering a resilient defense against evolving threats. It enables the implementation of targeted security measures, like routine system audits, employee training programs and the deployment of advanced detection technologies across an enterprise’s IT. In doing so, organisations can enhance their overall cyber readiness to combat ransomware threats, creating a more robust and secure digital environment for sustained business operations.
Recent Breaches
China – Industrial and Commercial Bank of China (ICBC) – Financial Services
Exploit: Ransomware
Risk to Business: Severe: Up-and-coming ransomware gang Hunters International claims to have stolen more than 5.2 million files belonging to the London branch of the Industrial and Commercial Bank of China (ICBC), a Chinese state-owned bank and financial service corporation. The gang set a deadline of September 13 for ransom payment. The fledgling ransomware group says it swiped 6.6 TB of the bank’s data. ICBC is the world’s largest bank by assets, boasting $6.3 trillion in assets as of mid-2024, with an annual revenue of $113 billion.
Japan – Toyota Motor Corporation – Manufacturer
Exploit: Hacking
Risk to Business: Moderate: A hacker group called ZeroSevenGroup is claiming that they snatched 240GB of data from Toyota. The stolen information runs the gamut including employee and customer records, contracts, network infrastructure data, credentials, contacts, financial data, schematics, photos, databases and emails. The data appears to be from 2022. Toyota first said the hack was limited in scope and did not impact their systems, later pivoting to saying that the data was stolen from an unspecified third party. The company provided no further details.
Talk to a TCT team member today about implementing cyber security plan for your business.
Robert Brown
20/09/2024
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