There are numerous travel restrictions in place right now globally. U.S. citizens are not permitted to travel outside of the U.S. due to the current pandemic. Covid-19 has impacted everyone at this point. In some way shape or form, each and every person, business or industry has been either negatively or positively affected.
Cybercriminals have taken advantage of this current situation. And, they have taken advantage of the human attraction of hot news and breaking stories.
While we can’t travel, take a look at what we know about CWT and their experience with ransomware.
The billion-dollar business travel management company, CWT’s ransomware incident should be a lesson to all. Headquartered in Minnetonka, Minnesota, CWT’s systems went offline. Serving clients from across the globe, their operations ceased.
It is said CWT paid the $4.5 million to the cybercriminals. Some clients reported they were notified about the cyber incident. There is no word on whether CWT reported the incident to the California Department of Justice. If a known breach occurred, it is required of CWT to notify the affected California residents within 30 days of the attack. This is according to the California Consumer Protection Act.
Ransomware attacks aren’t stopping anytime soon. According to Coveware, Q2 saw an increase in ransomware demand. It went up 60% from Q1. Ransomware attacks are becoming more aggressive. Although there are various ways to attack an environment, Remote Desktop Protocol (RDP) is on the rise. The current pandemic can be the reason for this. Employees are still working from home, and their home offices are most likely not set up to corporate standards. Employers probably never had cyber training for their employees prior or during the pandemic. As a result, you still have some employees whose wi-fi is set to default credentials, which can easily be found on the internet.
Understanding the severity of these types of attacks is highly important. It is not a matter of if, but when it will happen to your organization. Too often, leaders and board members become too naive or stubborn when it comes to implementing a cybersecurity plan.
Don’t think you are unstoppable because you can’t stop the headlines once you are in the news. There is never a great time for a business disruption or a ruined reputation. Figure out your next steps now. Rely on a cybersecurity firm like SpearTip to lay down the ground rules. Our proprietary tool, ShadowSpear® is backed by our 24/7 U.S. based Security Operations Center, which is staffed with elite cybersecurity engineers.