A further cyber-attack has hit and is currently targeting businesses across the globe with major organisations including advertising firm WPP, European Bank BNP Paribas and the Ukrainian government all reportedly affected. Many systems are still down and businesses are frantically trying to restore services.
Europol have said that the latest attack, the second in as many months is more sophisticated than the one that hit in May which affected the NHS. Europol executive director Rob Wainwright has stated that “it is a demonstration of how cybercrime is involving”.
The new malware shares similarities to the Petrya malware but critically also possesses very different functionality. Upwards of 2000 attacks have been reported in 65 countries including the UK, Germany, Poland and France. The malware encrypts the computer files and then demands payment of a ransom in the form of the online currency bitcoin in exchange for the data. I have always been entrepreneurial and customer focussed. No matter where I have worked my attitude was that I was working for my own business because ultimately I knew that is what I wanted to do.
What can you do to protect yourself?
1. Download patches
Like WannaCry, Petya is targeting a vulnerability in older Windows systems called EternalBlue. One of the best things you can do to protect yourself from these attacks is to download the patches Microsoft provides during updates.
2. Back up your computer
You should always back up so you have copies of your files in another location, like an external hard drive or in the cloud.
3. Encrypt files and mobile devices
Encryption can be enough to deter the opportunist hacker
4. Keep firewalls and anti-virus up-to-date and switched on
Protection programs should fight attacks, but also notify you when there is a threat to your computer.
5. Don’t click on anything suspicious
Some of these attacks occur because of phishing emails. These emails are designed to make you think they are legitimate, but install malware on your computer once you open them.
6. Consider ‘Cyber Essentials’
A basic cyber security hygiene standard to help organisations protect themselves against common cyber-attacks. Considering Cyber Essentials accreditation is a good first step in becoming cyber resilient
7. Consider the benefits of a Cyber Insurance Policy
Cyber insurance covers the losses relating to damage to, or loss of information from, IT systems and networks. Policies generally include significant assistance with and management of the incident itself, which can be essential when faced with reputational damage or regulatory enforcement.
Policies will generally include cover for:
- Loss or damage to digital assets such as data or software programmes
- Business interruption from network downtime
- Cyber exhortation where third parties threaten to damage or release data if money is not paid to them
- Customer notification expenses when there is a legal or regulatory requirement to notify them of a security or privacy breach
- Reputational damage arising from a breach of data that results in loss of intellectual property or customers
- Theft of money or digital assets through theft of equipment or electronic theft
- Security and privacy breaches, and the investigation, defence costs and civil damages associated with them
- Multi-media liability, to cover investigation, defence costs and civil damages arising from defamation, breach of privacy or negligence in publication in electronic or print media
- Loss of third party data, including payment of compensation to customers for denial of access, and failure of software or systems
Premiums for Cyber Insurance start as little as £150 per annum so it is a consideration that could save your businesses reputation, time and money.
For more information please contact me on 07725854230 or russell@vibl.co.uk
Russell Sessions
Founding Partner
Vizion Commercial