cyberattack

Manufacturing – Cyber A Real Threat

by
Manufacturing

The manufacturing industry is becoming a prime target for hackers where their technology is being compromised resulting in significant disruption within this sector.

Make UK , the Manufacturers Organisation recently carried out a cyber security resilience survey in the UK which demonstrated varying degrees of preparedness by manufacturers.

https://www.makeuk.org/insights/publications/2019/09/06/cyber-security-and-manufacturing

The highlights of the report were as follows:-

  • 60% of manufacturers indicated that they had been subject to some form of cyber security incident
  • 41% of their customers had requested evidence of the robustness of their cyber security processes and procedures
  • 31% of manufacturers were also asked this question within the supply chain

IBM’s 2019 Global Threat Intelligence Index showed that 10% of all attacks are aimed at the manufacturing sector.

Cyber Risk 

As with most business digital transformation is underway but with this brings new vulnerabilities and threats which need to be managed. For the manufacturing sector achieving the optimum production rates is vitally important and one of the ways in achieving this is through digitisation and a greater reliance on connectivity throughout the organisation.

What are some of the main Cyber Threats in this sector?

  • The theft of intellectual property by a hacker
  • Ransomware attacks from malware
  • Phishing attacks through as a result of access via the industrial control system
  • Spam messages which when deployed on mass will impact on productivity and communications within the organisation.
  • The compromise of the firms website that may impact on their reputation should defamatory of controversial commentary be posted by a hacker.
  • Employees or customers being subject to identity theft where they have had their personal details accessed by a cyber attack. This could include bank and credit card information details that are then used to commit fraud or are sold on the dark web.

How can the sector help protect itself ? 

Cyber risk management plays an important role in combating the evolving and unpredictable cyber threats that exist and should be pro-active rather than reactive.

In tandem with this businesses in this sector would benefit from purchasing cyber insurance which provides coverage for financial loss caused as a result of unauthorized access of their computer systems. More important it also provides incident response services from an established vendor panel drawn up by insurers.

Irrespective as to how cyber threats are managed it important that this given the correct level of priority at board level so that the right attention and appropriate resources are utilized to protect the well being of the organization.

Image : Shutterstock

GDPR One Year On – What’s Changed?

by
GDPR

GDPR has been with us now for just over a year – so what has changed during this period?

Businesses are now much more proactive in their approach to cyber security instigating robust systems and procedures to combat the threat of hackers.

http://cyberbrokers.co.uk/gdpr-data-protection-but-not-as-we-know-it/

The ICO have just published a report “GDPR – One Year On” which sets out a review of its first year in operation.

https://ico.org.uk/media/about-the-ico/documents/2614992/gdpr-one-year-on-20190530.pdf

Countering the Cyber Security Threat

The risk of a data breach is also now higher than ever with the changing cyber risk landscape. New ransomware strains and malware are evolving so keeping up to date protections in place is vitally important. GDPR is a clear driver of the approach that the C Suite has to instigate to protect and secure their businesses.

Among the many areas that IT Security has focused upon is back-up which is essential in protecting data. This makes it retrievable in the event of a compromise of data due to a cyber-attack.

Change in Philosophy

GDPR was a long time coming and businesses have struggled to find the resource to put in place processes to achieve compliance. Some were ahead of the game and some struggled to meet the deadline of 25th May 2018.

The philosophy to cyber security has also reached an engagement point where businesses are looking beyond GDPR. Businesses are now seeking cyber security accreditation’s such as ISO27001.

Global Effect

Other countries are also taking note of the impact that GDPR is having and bringing in similar legislation of their own.

For example the California Consumer Privacy Act (CCPA) which comes into force on 1st January next year.This provides consumers with certain rights over their personal data which is held by businesses  and is an obvious parallel with GDPR.

GDPR Fines

Regulators to date have issued in excess of 200.000 fines of which 65,000 were related to data breaches . Fines totalled E56M which includes the E50M levied against Google by the Irish Data Protection Commissioner. In this case new users were inadequately advised how personal data was collected and how this was subsequently used.

The fear of potential fines being issued of up to 4% of global turnover of a business by the regulators has not materialised yet. However from a speech made by Elizabeth Dunham , the U.K. Commissioner of the ICO recently stated in a speech that this may be about to change later in the year. The ICO it is understood have a couple of very large cases that are currently being reviewed.

Both Equifax and Uber have been fined over the past twelve months but this was under previous legislation and not GDPR.

The impact of GDPR  does appear to have improved cyber security standards. We are however waiting to see how regulatory bodies will impose the full force of non-compliance in the event of a cyber-attack that results in a significant data breach.

Image : Shutterstock

Will Ransomware Attacks Increase Under GDPR?

by
Ransomware

Business in the UK suffer on average 38 ransomware attacks a day and it is likely that we will see a significant increase in this when GDPR comes into force on 25th May this year.

According to cyber security product developer Sonic Wall there are over 2,500 different know variants of ransomware hitting UK businesses which makes the task of managing these attacks becoming a formidable job to combat. One of the current trends of cyber attacks carried out by hackers was is that their targets appeared to be that of data with ransomware being an ideal method of disrupting businesses by corrupting their data, stealing it or perhaps holding them to ransom.

This form of cyber attack on a business is perhaps one of the most difficult to handle due to its unpredictable nature and the impact that it can have on a business leaving it paralyzed to operate. It is also normally time limited which adds the factor of stress to the business owners with  the imminent threat of data being destroyed if the ransom is not paid within a specific deadline.

With GDPR there is added factor of a business being fined by the Information Commissioners Office (ICO) if data is compromised.The fines that could be imposed by the ICO are between 2 and 4% of global turnover depending on how the degree of the data breach. Uber would be an example of where the ICO could have imposed a heavy fine. Hackers held Uber to £750,000 ransom with the threat of releasing the data of 57 million customers. Uber would have been in the position of breaching GDPR rules on two occasions for the initial cyber attack and the fact that it was not disclosed as all data breaches will need to be advised to the ICO within 72 hours. It will be interesting to see how the ICO approach the question of fines and to what degree they are likely to impose the maximum fine threshold.

The paying of a ransom is am easy option to pacify alleviate a cyber attack but this could only be a short term solution as the hacker could return perceiving the business to be an easy target. There is  also no guarantee that the files containing the data will be released and will remain encrypted with the business still unable to access the data.

Cyber insurance can help with ransomware attacks , in paying the actual ransom and the costs associated with negotiating with the hackers. The policy would also provide coverage for the forensic and IT costs to investigate a possible sideways attacks by the hackers into computer systems. A data breach will need to be managed and this specialist form of insurance provides incident response services backed by a panel of experienced vendors.

Ransomware attacks will undoubtedly increase once GDPR comes into force and businesses will need to improve their cyber risk management in order to avoid the wrath of the ICO and the damage to their reputation that a severe data breach may cause.

Image : Shutterstock

Winter Olympics Viewed As Cyber Target

by
Winter Olympics

The Winter Olympics has already captured the attention of hackers and with this major event only a few days away the cyber threat is very real …..

Hackers have already targeted the Winter Olympics with a number of organisations being subject to attacks in an effort to gain access to sensitive information.

MacAfee have revealed that a hacking campaign has been in place for a while which appears to be backed by a nation state . The targets have been ice hockey teams and ski-ing suppliers discovered.

https://www.wired.com/story/pyeongchang-winter-olympics-cyberattacks/

Why the Winter Olympics?

Major sporting events grab the attention of the entire world but unfortunately this also attracts elements of the population who perceive this as an opportunity to be exploited  ….. the world of cyber crime.

The threat that cyber crime poses to an event such as this is similar to that which exists for any other business but on a much larger scale and with more dramatic consequences due its high profile and the many threat vectors that exist.

The Cyber Threat Landscape

Some of the targets for cyber criminals are likely to be the following :-

1.The Official PyeongChang 2018 Website

Distributed denial of service (DDoS) attacks preventing access to website by fans.

The accessing of the website by hackers, altering the data such as falsifying the results and interfering with medal tables.

Defacement of the website by a hacktivist.

Spectators and visitors will no doubt access the website via Wi-Fi and vulnerability will exist if they inadvertently log in through a rogue Wi-Fi connection which could lead to the stealing of their personal data.

2.Event Tickets

Ticket fraud with the setting up of bogus websites taking fans money and issuing counterfeit tickets.

Website scamming offering last minute match day tickets for the big events with no ticket actually being produced.

3.The Venues

Technology will be pivotal in all aspects of the running of the 15 venues being used in PyeongChang . Entry to the venues, ticketing processing, management of lighting and associated infrastructure would all be impacted in the event of a cyber attack.

4. Competitors Data 

The event will involve a huge amount of data ranging from credit card data of spectators, athletes confidential information or the database of the organizers which is likely to be targeted by hackers. This could occur through phishing attacks in order to steal personal private information (PPI)and then lead to possible bank fraud of individuals. Brazil does have an established reputation for on-line banking fraud.

5.E-mail Transmission

E-mail scamming could be caused by bogus e-mails set up to obtain athletes and officials personal information that could be disseminated over the internet. The endless sending and exchanging of e-mails also presents an opportunity or spamming.

6.Media Coverage

World wide coverage will be provided to this event by television companies who will be reliant on technology and the service could be interrupted or even blacked out by a hacker wishing to cause transmission downtime. For example a video re-run of the 200 m final could be disrupted by a ransomware attack.

7. Computer Network 

The spreading of a malware attack within the internal computer network and third party providers could cause enormous interruption to the running of the numerous events taking place. The reliance on technology reaches far and wide ranging from the transportation network to close circuit TV surveillance systems.

8. Mobile Applications 

Fake mobile apps devised by developers to give the impression of the official Winter Olympics app. Smartphones area also at risk if stolen and personal data is sourced.

9.Cyber Terrorism

Cyber terrorism could occur in a number of forms. A ransomware attack would limit or entirely restrict the use of computer systems affecting the running of the Winter Olympics.

There may be political motivation from countries that want to disrupt the event. This could be to make a political stand on an issue or perhaps a country that failed to win an event or perhaps a competitor that was disqualified and the country that was represented takes retaliation.

The threat of remotely controlled drones by cyber terrorist entering an event causing disruption and delay to matches.

10.Social Media

Infiltration of social media websites by hackers of the tournament and personal accounts pose a threat to fans , players and officials privacy.

Cyber Risk Management Program

The International Olympic Committee will no doubt have in place a comprehensive cyber risk management program to manage the programs of events which is likely to be broken down into the following :-

  • Identification of cyber risk vectors
  • The mitigation of cyber risk within the tournament
  • The transfer of residual cyber risks that they are unwilling or unable to manage.

Cyber Insurance

Cyber Insurance can assist with the transfer of cyber risks associated with sporting events by providing the following insurance modules :-

  • Network Security Liability
  • Data Privacy Liability
  • Multimedia Liability
  • Network Business Interruption
  • Data Asset Protection
  • Cyber Extortion
  • Crisis Management

A cyber insurance policy also provides post breach vendor assistance helping with data breach notification , forensic investigation and public relations.

The Winter Olympics is global event that is reliant on technology which does make it especially vulnerable to cyber security threats, it is therefore important that these are recognized and measures are put in place to mitigate the potentially severe consequences that could impact on the games.

This post is based on “Rio 2016 – The Cyber Threat”

http://cyberbrokers.co.uk/rio-2016-cyber-threats/

Image : Shutterstock

 

Equifax …The Anatomy of a Data Breach

by
Data Breach

Equifax , one of the largest US credit reporting agencies last week suffered a massive data breach, early indications are that it has affected as many as 143 mllion US customers whilst also impacting on individuals in the UK and Canada. This attack has been further compounded by a subsequent attack in Argentina which again targeted the US.

http://cyberbrokers.co.uk/cyber-news-2/

The Facts

The incident occurred between May and July this year involving the compromise of social security numbers , birth dates , addresses and driving licence details. In addition to this it is understood that the hackers managed to access 209,000 credit card numbers and other documents disclosing personal identifiable information relating to a further 182,000 customers of Equifax.

The credit reporting agency looks after the data of 44 million British customers for British Gas , BT and Capital One and it is understood that up to 400,000  may have had their details compromised during the breach.

https://krebsonsecurity.com/2017/09/the-equifax-breach-what-you-should-know/

The Breach Response 

Forensic Investigation

Cyber security consultants have been appointed in order to carry out a forensic investigation to try and ascertain the scope of the hackers intrusion into their systems and exactly what data has been compromised. Action Fraud in the UK have also posted guidance on their website in the event of possible fraudulent activity on UK citizens accounts following this data breach.

Credit Monitoring

All customers affected have been offered credit monitoring and identity theft protection free of charge.

Data Notification

In the US the average per person cost of a data breach is believed to be $225 , with possibly 143 million individuals affected the financial implications of this are extremely high

Cyber Insurance

It is understood that Equifax did take out cyber insurance and this will go some way to mitigate the financial costs associated with such as breach. Other insurance policies may also be able to respond in relation to this loss.

Notification to Regulatory Bodies

This cyber attack has also been reported to the relevant US law enforcement agencies, in addition to this the ICO in the UK has been alerted to assess the implications for UK citizens.

The Consequences of the Breach

Impact on Share Price

It is too early to assess the ramifications of the data breach on Equifax , however the shares of Equifax dropped nearly 9% equivalent to $3.50 billion of their share value.

Executives depart

A few days after the incident it has been announced that the Chief Information Officer and Chief Security Officer would be departing from the business.

What went wrong ?

It is unclear how the initial breach was caused but it is believed that the hackers exploited a vulnerability in a piece of software that could be used with Apache web server program. A patch had been issued to update the software but it appears that this may not have been updated. The more recent incident is believed, according to various reports to have resulted from an online employee tool that enabled “admin” to be utilized for both login and password which then made it possible to gain access to customers data.

The Equifax Factor

The Equifax data breach should be a warning to UK businesses that that need to have the appropriate procedures in order to manage the data that they hold ahead of the implementation of the GDPR on  25th May 2018 . Should such a data breach occur once the GDPR is in force UK citizens would be able to avail themselves of protection under this forthcoming piece of legislation.

 

Are You Prepared For A Data Breach?

by
Data Breach

Are you prepared for a Data Breach ?

Every business should be prepared for a data breach …… hackers act indiscriminately and any business could be a legitimate target.

An incident response plan is essential part of the jigsaw in managing cyber risks and does play a very important role in being prepared for a data breach.

The plan should be constantly updated on at least an annual basis with consideration given to the following:-

  • Breach experience of a businesses peer group
  • Independent third party review of the incident response plan
  • Tabletop exercises to ensure effective implementation of the plan
  • Appropriate employee training
  • Crisis management scenarios played out in order to address changing cyber risk landscape
  • Ensure that effective communication is practiced at all levels of the business in the event that the plan becomes operative.

What makes a good Incident Response Plan?

1.Buy in of implementation of plan by all relevant stakeholders to include the legal team , IT , risk management , HR    Public relations and facilities management.

2.Board level support lead by CISCO.

3. An on-going synopsis of cyber threats to the business so the plan can be adapted or revised

4. Assessment of any third parties cyber exposures that may impact on the businesses with checks carried out on their own cyber risk posture.

5. Minimum security standards implemented with third party providers

6. The purchase of cyber insurance to support the business and avail assistance of insurers incident response team of professionals.

The Experian Data Response Guide is an annual report that provides plans and processes to implement when a data breach occurs within a business.

The most recent report shows that the awareness is now at a much higher profile that it ever has been with senior management more involved with being data breach prepared. There is still however a lack of confidence in actually being able to manage a data breach. The report also showed that incident response plans were not regularly updated with 35% of businesses not updating this since the plan was first instigated. It was also discovered that very few businesses have a “dry run” to see how the plan would work in practice.

http://www.experian.com/assets/data-breach/white-papers/2016-2017-experian-data-breach-response-guide.pdf

The stakeholders of the incident response plan need to be at all levels from senior board members, finance and HR directors and employees representing different sectors of the business.

General Data Protection Regulations (GDPR)

The GDPR comes into force on 25th May 2018 and with this brings an obligation to protect personal data of individuals with the onus to report any data breach that may impact on such individuals.

It is important therefore that businesses have robust systems in place to manage the appropriate handing of data but also how cope with a data breach should this occur.

This includes who to report the breach to and what to report and make reference to such matters as the nature of the breach, the consequences of the breach and measures taken to address the breach. Systems therefore need to be in place so that this information can be provide to the ICO or other relevant regulatory body.

Experian Data Breach Resolution and Ponemom Institute released an industry study on 27th June this year which revealed that whilst most businesses are aware of global and data security regulations they have not yet have addresses the necessary organizational changes in order to achieve compliance.

The study carried out on 550 IT security and compliance officers entitled “Data Protection & Regulations in the Global Economy” ascertained that only 32% of the respondents still didn’t have an incident response plan in place. Furthermore only 9% of business stated that they were ready to comply with the GDPR next year with 59% stating that they did not know how to comply……

https://www.experianplc.com/media/news/2017/experian-data-breach-resolution-and-ponemon-institute/

Cyber Insurance

Cyber insurance can help with managing and mitigating a data breach, the following services are included when a cyber insurance policy is purchased :-

  • Legal assistance in notifying data subjects that may have lost data
  • Forensic Investigation is provided to help ascertain how the breach was caused and if the hacker is still able to infiltrate the computers systems.
  • Public Relations to help manage the impact that this might have on the public’s perception of the breach.
  • Credit Monitoring services to monitor individuals bank accounts should their date be used to carry out fraudulent transactions.

The appointment of such specialists on an individual basis can be very expensive and it is worth considering this form of insurance for this reason alone.

To sum up an incident response plan is a key piece of armoury to help protect a business from the consequences of a data breach and should be an integral part of the overall cyber risk management procedures and practices.

 

Image : Shutterstock