News and Updates on Information Technology

United States – CWT

Exploit: Ransomware
CWT: Travel Management 

Risk to Small Business: 1.882 = Severe

CWT reportedly paid an eye-popping $4.5 million to cybercriminals using Ragnar Locker ransomware to decrypt reams of sensitive corporate files and restore 30,000 company computers that were knocked offline. Reportedly, the hackers initially demanded $10 million. Reuters included details and screenshots of the negotiation in a story filed last week. The ransom note left by the hackers claimed to have stolen two terabytes of files, including financial reports, security documents, and employees’ personal data such as email addresses and salary information. 

Individual Risk: No personally identifiable information or financial information was reported as stolen

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: The most common delivery system for ransomware is a phishing email – and 90% of incidents that end in a data breach start with a phishing email. Boosting phishing resistance is essential to lower the chance of a successful ransomware attack.