Ransomware group now threatening customers of victims, ransomware attack could cost company over $20 million and update your Apple devices.
Welcome to Cyber Security Today. It’s Monday March 29th. I’m Howard Solomon, contributing reporter on cybersecurity for ITWorldCanada.com.
A ransomware attack on U.S. managed services provider CompuCom will be expensive. In a security filing on Friday the company said it could cost up to $20 million to restore crippled IT systems. In addition, it could lose up to $8 million in revenue because some services had to be suspended to some customers. Some of the costs could be covered by cyber insurance. CompuCom was hit at the beginning of the month. By March 17th it had largely restored its ability to deliver service to customers. It says it will have service delivery restored to substantially all customers by Wednesday.
Meanwhile Canadian wireless component manufacturer Sierra Wireless says it has resumed production and started to recover internal systems following a ransomware attack. That attack started March 20th. The company says the attack did not hit customer products or systems. Sierra Wireless makes modules embedded in industrial systems from pipelines to transport trucks.
And a ransomware group has found a new way to pressure victim organizations to pay up: It’s contacting customers and warning them their sensitive data was copied from the ransomware victim. The crooks warn that data will be publicly released unless the victim firm pays a ransom. According to the Bleeping Computer news service, this tactic is now being used by a ransomware group called Clop. Squeezing customers to put pressure on others is a tactic that will only increase.
These and other cyber attacks underscore why boards of directors can’t leave cybersecurity only to management. They have to take a role in oversight. To help last week the World Economic Forum issued new guidance to boards on what they should do. You’ll find my story on this report here.
Apple has released emergency security updates for iPhones, iPads, and Apple Watches. Users of these devices should make sure these patches are installed as soon as possible.
In December SolarWinds had to issue security patches to close vulnerabilities that led to the compromise of the software update mechanism to its Orion IT network monitoring platform. Now it’s issued more security patches to close four other vulnerabilities to the platform itself. Network administrators should make sure Orion is patched.
Finally, I’ve warned users of mobile devices about the risks of downloading applications from anywhere other than the Google Play or Apple stores. Here’s the latest example why: A security company called Zimperium has found malware pretending to be an Android System Update. Victims might find it by doing an internet search for updates, or on an unapproved web site offering apps. It may be sent by text or email. Ignore it. This update allows hackers to spy on and record phone calls, steal text messages and steal data. Only trust official app stores
That’s it for today. Links to details about these stories are in the text version of this podcast at ITWorldCanada.com. That’s where you’ll also find my news stories aimed at cybersecurity professionals.
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This content was originally published here.