Ransomware Attack On Accenture

The global business consulting firm Accenture has confirmed that it has become a victim of a LockBit ransomware attack. According to the company, LockBit was used in attempt to freeze various corporate databases, although the firm says that it has recovered all its data using backups. 

The LockBit ransomware-as-a-service (RaaS) gang has published the name and logo of Accenture, with a mischievous message and an implied threat to the security of even some of the world’s biggest, most powerful companies.

Ransomware Background

Ransomware is a subset of malware in which the data on a victim's computer is locked, typically by encryption, and payment is demanded before the ransomed data is decrypted and access is returned to the victim. The motive for ransomware attacks is usually monetary, and unlike other types of attacks, the victim is usually notified that an exploit has occurred and is given instructions for how to recover from the attack. Payment is often demanded in a virtual currency, such as bitcoin, so that the cyber criminal's identity is not known.

In May this year Colonial Pipeline paid almost $5 million to restore its systems after DarkSide used encryption to hold hostage the pipeline, which supplies nearly half of the East Coast’s fuel to 50 million people. 

The cybersecurity industry is stretched thin. Ransomware attacks are now so prolific that some companies simply cannot help every newly hacked victim get back online and a shortage of workers means no immediate help in sight. One of the biggest problems that organisations face in the battle against ransomware is a lack of expert guidance and attacks have become so prolific that organisations don’t have the internal expertise to address the risk and are unable to seek assistance from third parties.

The pace of attacks is seemingly relentless. President Biden has spoken about  the issue, stressing how much ransomware activity originates from Russia,where cyber criminals seem to work with impunity. In  of the most prolific ransomware gangs, REvil, carried out one of its boldest attacks on the Fourth of July weekend on Kaseya, a n IT services buisness which infected the customer supply chain. Experts say the hack permitted REvil to infect  more than 1,500 corporations in the US and around the world. 

Types of Ransomware

There are three main types of ransomware.

Scareware:   Scareware includes rogue security software and tech support scams. You might receive a pop-up message claiming that malware was discovered and the only way to get rid of it is to pay up. If you do nothing, you’ll likely continue to be bombarded with pop-ups, but your files are essentially safe. A legitimate cyber security software program would not solicit customers in this way. If you don’t already have this company’s software on your computer, then they would not be monitoring you for ransomware infection. If you do have security software, you wouldn’t need to pay to have the infection removed, you’ve already paid for the software to do that very job.

Screen Lockers:   When lock-screen ransomware gets on your computer, it means you’re frozen out of your PC entirely. Upon starting up your computer, a full-size window will appear, often accompanied by an official-looking like police  or Department of Justice seal saying illegal activity has been detected on your computer and you must pay a fine. However, the police would not freeze you out of your computer or demand payment for illegal activity. If they suspected you of piracy, child pornography, or other cyber crimes, they would go through the appropriate legal channels.

Encrypting Ransomware:   The hacking gangs steal your files and encrypt them, demanding payment in order to decrypt and redeliver. The reason why this type of ransomware is so dangerous is because once cyber criminals get ahold of your files, no security software or system restore can return them to you. Unless you pay the ransom, for the most part, they’re gone. Even if you do pay up, there’s no guarantee the cyber criminals will give you those files back.

The Future Of Ransomware 

As ransomware technology continues to advance, the technological margin between attackers and public targets has the potential to grow even wider. Within these targeted public sectors, specifically healthcare, attacks may be more costly in the coming years than ever before.

Predictions also indicate a growing focus on small businesses that run outdated security software. As the number of IoT business devices grows, small businesses can no longer think that they are too small to be attacked. This  attack vector is growing faster than effective the available security measure and the risk is that  domestic devices will become progressively more likely targets, alongside business.

NBC:     IEEE:      Oodaloop:        War on the Rocks:     ITGovernance:    Malwarebytes:      Techtarget:

CRN:        Threatpost:   Infosecurity Magazine:     

You Might Also Read:

No More Ransom Saves Victims:

 

« Suspected Russian Spy Arrested
Norton To Pay $8bn To Buy Avast »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

ZenGRC

ZenGRC

ZenGRC - the first, easy-to-use, enterprise-grade information security solution for compliance and risk management - offers businesses efficient control tracking, testing, and enforcement.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

eSecurityPlanet

eSecurityPlanet

eSecurity Planet is the IT professional's top choice for Internet security news and analysis, technical tutorials, product reviews, and buying guides.

Skkynet Cloud Systems

Skkynet Cloud Systems

Skkynet is a leader in real-time data systems for the secure management and control of industrial processes (SCADA) and embedded devices (M2M).

SECURITYMADEIN.LU

SECURITYMADEIN.LU

SECURITYMADEIN.LU is the main online source for cyber security in Luxembourg providing news, information and a toolbox of cyber security solutions.

Cyberbit

Cyberbit

Cyberbit empowers cybersecurity teams to be fully prepared with a product portfolio ready to detect and respond effectively across both IT and OT networks.

Hacker House

Hacker House

Hacker House teaches you what hackers can learn about your business and systems so that preventative solutions to protect your assets can be applied through active measures.

Sera-Brynn

Sera-Brynn

Sera-Brynn is one of the highest-ranked, pure-play cybersecurity compliance and advisory firms in the world.

Polyrize

Polyrize

The Polyrize continuous authorization platform for SaaS and IaaS stops tomorrow's public cloud cyber threats, today.

MagicCube

MagicCube

MagicCube is a device independent IoT security platform that protects against on-device, cloud, and network attacks.

Apozy

Apozy

Apozy replaces a secure web gateway to nullify phishing, malware and impersonation attacks.

FifthDomain

FifthDomain

We are a specialist cyber security education and training company tackling the global cyber security skills shortage.

Pentest360

Pentest360

Pentest360 is a 24x7x365 Penetration testing service offered through a feature-rich, centralised platform on the cloud that delivers instant visibility during security assessments.

IT Band Systems

IT Band Systems

IT Band Systems is an international provider of IT products and services including web server monitoring and web security consulting.

Cognyte

Cognyte

Cognyte are a market leader in security analytics software that empowers governments and enterprises with Actionable Intelligence for a safer world.

Tabidus Technology

Tabidus Technology

Tabidus Technology is a cybersecurity association that unites and provides the global protection options against cyber threats.

Cybolt

Cybolt

Cybolt helps companies, organizations, and governments manage digital risks and live in an environment of confidence and certainty.

Legit Security

Legit Security

Legit Security's mission is to secure every organization's software factory by protecting the pipelines, infrastructure, code and people for faster and more secure software releases.