Security Breach Update
18 June 2020

Ransomware is everywhere, and every company is at riskRansomware is everywhere, and every company is at risk

Ransomware is a growing menace to companies of every size and has surged to become even more popular as a means of attack. During the global pandemic, researchers reported that ransomware attacks have skyrocketed, increasing by more than 140% over 2019.

It has not only become more pervasive; it’s also become more expensive. The expected cost of a ransomware attack, (including recovery, remediation, and ransoms), is expected to increase to $20 billion in 2021.  One U.S. oil and gas company lost a whopping $30 million to a single ransomware attack in 2019, and ransomware related downtime can also cost a fortune.

Healthcare is an especially popular and juicy target for bad actors, and cyberattacks against healthcare industry targets have increased fivefold in 2020.  Ransomware has ravaged healthcare organizations providing essential COVID-19 care in the US, Canada, the UK, and other regions impacted by the pandemic.

The most common method of delivery for ransomware is through a phishing attack, and they’ve jumped over 600% since the start of the COVID-19 pandemic. Don’t wait until ransomware makes an impact on your bottom line – start training every staffer thoroughly to make them the strongest possible defence against the phishing attacks that aim to deliver ransomware.

Recent Breaches

Australia – Lion Beer Australia – brewing conglomerate

Exploit: Ransomware

Risk to Small Business: Extreme: At Lion Brewing Australia, operations were disrupted by a ransomware attack as it began to reopen and restaff its 8 breweries in Australia and New Zealand. The attack came just as the company was able to resume operations after a period of closure caused by COVID-19 restrictions. The company has been forced to shut down its key systems entirely, reverting to manual systems to operate and process orders in this devastating incident that has still not been fully resolved.

Risk to Exploited Individuals: No employee or customer information was reported affected by this incident.

Customers Impacted:  Unknown

Japan – Honda Motor Company Inc.

Exploit: Ransomware

Risk to Small Business: Extreme:  Honda was recently walloped by a huge cyberattack that briefly shut down production at its factories worldwide. The attackers are suspected of using SNAKE/EKANS ransomware to infiltrate equipment and computer systems connected to operations and production in every Honda facility, leading to delayed post-pandemic re-openings at some factories. Honda is undertaking restoration operations at its factories, sales centres, and business units and has successfully restored most functionality.

Risk to Exploited Individuals:  No individual data was reported as compromised in this breach, nor does Honda believe that individual data was affected.

Customers Impacted:  Unknown.

Being proactive in developing a cybersecurity plan can be the difference in successfully defending a breach or losing millions to a harmful attack.

Protect your data, privacy and reputation, talk to a TCT sales team member today.

Robert Brown
18/06/2020

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