News and Updates on Information Technology

Australia – Cognizant

Exploit: Ransomware

Cognizant: IT Service provider

Risk to Small Business: 1.557 = Severe

Maze ransomware, a prominent form of the damaging malware, has encrypted Cognizant’s internal systems and caused disruptions for the company’s clients. Maze ransomware can be especially damaging because it exfiltrates company data before encrypting networks, doubling the damage of an attack by requiring companies to both restore network services while grappling with the impact of a data breach. The company, which has offices around the world, including in Australia, will now have to navigate productivity declines, data security concerns, and recovery costs as it grapples with a COVID-19-related downturn.

Individual Risk: At this time, no personal information was compromised in the breach. However, Maze ransomware is known for its ability to exfiltrate company data. As a result, anyone affiliated with the company should diligently monitor their accounts and communications for signs of fraud.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Especially in the challenging business environment posed by COVID-19, ransomware is an expensive malady that every company needs to actively defend against. Although these attacks can feel random and inevitable, there are active steps that companies can take to bolster their defensive stance against the costly scourge of ransomware attacks.