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 »

ManageEngine
CyberSecurity Jobsite
Check Point

Directory of Suppliers

ManageEngine

ManageEngine

As the IT management division of Zoho Corporation, ManageEngine prioritizes flexible solutions that work for all businesses, regardless of size or budget.

Directory of Cyber Security Suppliers

Directory of Cyber Security Suppliers

Our Supplier Directory lists 8,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

Alvacomm

Alvacomm

Alvacomm offers holistic VIP cybersecurity services, providing comprehensive protection against cyber threats. Our solutions include risk assessment, threat detection, incident response.

ITpreneurs

ITpreneurs

ITpreneurs provides IT training content, Instructors, Learning Infrastructure and services to IT Training providers.

GFI Software

GFI Software

GFI Software works with System Administrators, IT Professionals and IT Executives to ensure that their IT infrastructures are monitored, managed, secured and compliant.

Snort

Snort

Snort is an open source intrusion prevention system capable of real-time traffic analysis and packet logging.

Centrify

Centrify

Centrify’s Next-Gen Access is an identity & access management solution that uniquely converges Identity-as-a-Service, enterprise mobility management and privileged access management.

Visual Guard

Visual Guard

Visual Guard is a modular solution covering most application security requirements, from application-level security systems to Corporate Identity and Access Management Solutions.

Indusface

Indusface

Indusface offers best website security, web application firewall and SSL certificate to keep your online business much safer.

Lightship Security

Lightship Security

Lightship Security is an accredited Common Criteria and FIPS 140-2 IT security testing laboratory that specializes in test conformance automation solutions and IT product security certifications.

Caveonix

Caveonix

Caveonix’s RiskForesight TM solution is an automated, proactive risk and compliance platform designed for hybrid and multi-cloud.

SAM Seamless Network

SAM Seamless Network

SAM Seamless Network is a cybersecurity technology platform that protects the connected home, by tackling cyber security threats at the source.

Institute for Pervasive Cybersecurity - Boise State University

Institute for Pervasive Cybersecurity - Boise State University

Boise State University’s Institute for Pervasive Cybersecurity is a leader of innovative cybersecurity research and advancement in Idaho and the region.

Mandiant

Mandiant

Mandiant deliver dynamic cyber defense solutions powered by industry-leading expertise, intelligence and innovative technology.

Flat6Labs

Flat6Labs

Flat6Labs is the MENA region’s leading seed and early stage venture capital firm, currently running the most renowned startup programs in the region.

Digimune

Digimune

Digimune is an all-encompassing cloud-based cyber risk protection platform that guards you against the dangers of our digital world.

WPScan

WPScan

With WPScan, you'll be the first to know about vulnerabilities affecting your WordPress installation, plugins, and themes.

IT-Schulungen.com / New Elements GmbH

IT-Schulungen.com / New Elements GmbH

Under the name IT-Schulungen.com, the Nuremberg-based New Elements GmbH has been operating one of the largest training centres in the German-speaking world for over 20 years.

Nuke From Orbit

Nuke From Orbit

Nuke's mission is to put you back in control of your digital identity when your smartphone gets stolen.