News and Updates on Information Technology

Chile – BancoEstado

Exploit: Ransomware
BancoEstado: Financial Institution 

Risk to Small Business: 1.421 = Extreme

Ransomware was able to shut down all branches of Chilean bank BancoEstado, one of the largest banks in the country, after an audacious ransomware attack rocked it. The incident was caused by REvil ransomware, and impacted the bank for several days, putting a stop to all of its business. The ransomware caused extensive damage and encrypted the vast majority of internal servers and employee workstations.

Individual Risk: No individual data has been reported as compromised in this incident.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Ransomware has a devastating impact on any organization, causing service disruptions and lost business plus an expensive recovery even if no information is stolen or it can be retrieved from backups.