Cybersecurity Update - July 2020

SoftwareONE believes there is a need for additional information when it comes to cybersecurity, as organizations have made it clear that investment in a proper security strategy is paramount. SoftwareONE’s monthly Cyber Threat Bulletin provides updates on the most recent threats, the latest breaches and how to react to them in order to stay on top of malware and ransomware threats.

Due to the pandemic, the world changed almost overnight and organizations all over the world had to react immediately - switching from office work to remote work and implementing technologies to deliver the infrastructure, applications and security required to keep their businesses running. With security resources and budgets stretched thin to accommodate remote workforces, cybercriminals were quick to capitalize on the increased attack surface and general uncertainty, striking with a 667 percent increase in cyberattacks.

Companies had to quickly implement and embrace new technologies to enable their business, such as cloud storage and cloud-based communication and collaboration. Unfortunately, these new technologies (especially if not securely implemented) offered new vulnerabilities for cyberattacks, increasing business risk. The current pandemic did not put a stop to cyberattacks as we have seen some severe data breaches during the past few months. This proves that criminals are trying their best to benefit from remote workers and weaker security settings. So it doesn't came as a surprise to see that:

• The world’s largest domain registrar, GoDaddy, with 19 million customers, has disclosed a data breach impacting web hosting account credentials.
• Service NSW, an Australian-based government agency providing access to government services for people and businesses across New South Wales was hit by a phishing attack.
• UK budget carrier EasyJet is contacting customers after a serious cybersecurity breach which resulted in access to the personal information of 9 million travelers.
• Norway’s state-owned investment fund Norfund has halted all payments after losing $10m in an advanced data breach.
• Asian e-commerce giant Tokopedia is investigating a potentially major data breach after researchers revealed that 91 million user records are up for sale on the dark web.

Data breaches like these show that one single breach can not only irreparably damage an organization’s brand, but also jeopardize clients’ names and operations.

Now, after weeks of uncertainty there is light at the end of the tunnel: with the right planning and execution, businesses can bounce back from what's quickly becoming a global recession and return to good health. It takes the right strategy, a flexible approach and a desire to achieve organizational resilience. We have collected further data breaches, cyber threats and awareness news in our July Cyber Threat Bulletin.

Get your copy here and keep yourself up-to-date.