News and Updates on Information Technology

United States – BlackBaud

Exploit: Ransomware
BlackBaud: Cloud Services & Financial Technology

Risk to Small Business: 2.177 = Severe

BlackBaud admitted that its’ success in preventing a recent ransomware attack in May 2020 wasn’t quite as straightforward as it seemed. It turns out that they did pay a ransom to the hackers, but not to decrypt files. The ransom was paid to prevent the release of the stolen data in an increasingly popular double-extortion ransomware scheme. The cloud provider, which primarily works with non-profits, foundations, educational charities, and healthcare organizations, said the incident only impacted the data of only a small subset of its customers, which they have now notified. 

Individual Risk: 2.797 = Moderate

According to BlackBaud’s statement about the incident,  no credit card information, bank account information, or Social Security numbers were stolen.  

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Ransomware is the bane of every company in today’s threat environment. Improved security awareness training, especially around phishing threats, is the best way for companies to quickly boost their defenses against ransomware.