Hacks, Attacks and Breaches: 3/5/2020 to 3/11/2020
Here’s the latest installment of the Hacks, Attacks and Breaches cybersecurity news update.
The Logically team provides top cyber security stories every week to keep you up to date on the latest news headlines on cybersecurity, hacking, computer security, ransomware and other cybersecurity threats.
Visser Precision: Parts manufacturer for space and defense contractors.
Risk to Small Business: 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.
How it Could Affect Your 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.
Exploit: Accidental data sharing.
Riverview Health: Healthcare provider.
Risk to Small Business: 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.
How it Could Affect Your 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.
Exploit: Unauthorized database access.
J Crew: Clothing retailer.
Risk to Small Business: 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.
How it Could Affect Your 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 a rapid recovery.