First they came for the Democratic National Committee, and you didn’t revise your cybersecurity strategy. Then they came for Netflix, and you didn’t protect your network. Then they came for the NHS, and you didn’t improve your security profile. Then they came for your business, and there was nothing left to do. A cyber-criminal had infiltrated your network, taking data and demanding a ransom.
If you’ve been keeping up with our blogs, you will know just how loudly we’ve been banging the cyber-security drum. Well, if it wasn’t obvious before: now you can see why.
Last week, we witnessed the biggest ransomware attack in history, with more than 300,000 computers infected globally. NHS Organisations across the country reported IT failures and scrambled data caused by malware that appeared to be using technology called Eternal Blue, stolen from the National Security Agency in the US. The malware – known as WannaDecryptor or WannaCry – demanded $300 to $600 to restore access.
Hospitals and doctor’s surgeries in parts of England and Scotland were forced to turn patients away and cancel appointments following the attack, while some turned to notepads and mobile phones in absence of computers. People in affected areas were being advised to seek medical care only in emergencies.
But the NHS weren't the only ones affected: FedEx, Telefonica, Portugal Telecom, China National Petroleum, Nissan Motor and Renault were also hit hard by the cyberattack, which preys on the vulnerabilities of older versions of Windows. While Microsoft issued a security update in March that prevented this form of malware, it seems many were too quick to click “remind me later.”
Unfortunately, running operations from out-dated systems now poses a huge threat to your security, not just your efficiency.
It seems the Internet’s age of innocence is over, and with new cyber-attacks and data breaches making the headlines every day, indifference is no longer an option. After all, if the NHS is vulnerable to hacking groups, can you really say for sure that your infrastructure is safe from the cyber-threat?
How can I protect my business?
Increasingly, organisations link more and more of their operational processes to their cyber infrastructure. Despite this, many businesses are still failing to take preventative action and improve their cyber-security.
To counter the evolving cyber threat facing organisations today, business owners and IT professionals must implement effective security practices to protect their finances, their data and their reputation.
As reports of high-profile cyber attacks continue to hit the headlines, revising your security strategy to minimise risk should be top of your To-Do list. Security resources are plentiful for business owners, but often, knowing when to start can be a challenge.
How can 360 Business Law help me?
At 360 Business Law, our specialist Internet and Technology lawyers help businesses around the globe to devise robust prevention strategies in the face of cyber-crime.
Our cyber experts have a detailed understanding of the threat landscape and take a risk-based approach to identifying how it impacts individual organisations.
When you instruct a member of our team, we will aid in building a greater resilience from both a systems and business perspective; working proactively to ensure a strong incident response plan is in place should the worst happen.
For specialist legal advice on cybersecurity, get in touch with our business lawyers today on 01276 804432.