Posts Tagged ‘FBI’

Help The FBI Find A Defense Against Ransomware

Monday, September 19th, 2016
Help Fight Ransomware - Ohio CPA Firm

The FBI recommends users consider implementing prevention and continuity measures to lessen the risk of a successful Ransomware attack. Keep reading to find out how you can help the FBI combat the threat of Ransomware.

The FBI recently released a public service announcement urging victims of Ransomware attacks to come forward and report these cyber infections to federal law enforcement. Doing so, the FBI said in a statement, will “help us gain a more comprehensive view of the current threat and its impact on U.S. victims.

Read Also: Could Your Company Be Ransomware’s Next Victim?

A Closer Look At Ransomware

A computer infection that has been programmed to encrypt all files of known file types on your computer and your server’s shared drive and making them inaccessible until a specified ransom is paid; Ransomware is a very real threat to all businesses nationwide. Once a computer is infected, which usually happens once a user clicks on a malicious link, opens a fraudulent email attachment or unknowingly picks up a high-risk automatic download while surfing the web, it’s all but impossible to regain access to the data that has been infected. Upon discovering that your computer has been infected, you have two choices. You can either:

1)     Restore the machine by using backup media, or

2)     Accommodate the hacker’s demands and pay their ransom.

And both options are less than ideal.

What To Do If Your Company’s Network Becomes Infected

Ransomware infections were at an all-time high in the first several months of 2016, according to various cybersecurity companies, and because new Ransomware variants are emerging regularly, the FBI needs your help to determine the true number of Ransomware victims.

“It has been challenging for the FBI to ascertain the true number of Ransomware victims as many infections go unreported to law enforcement,” the agency stated in its recent announcement. “Victims may not report to law enforcement for a number of reasons, including concerns over not knowing where and to whom to report; not feeling their loss warrants law enforcement attention; concerns over privacy, business reputation, or regulatory data breach reporting requirements; or embarrassment. Additionally, those who resolve the issue internally either by paying the ransom or by restoring their files from back-ups may not feel a need to contact law enforcement.”

Read Also: How Much Is Your Data Worth To Criminals?

Reporting a Ransomware attack on your company’s network is not only beneficial for you, the information you provide will help the FBI as it works to identify ways to prevent future attacks. Your reports will:

  • Provide law enforcement with a greater understanding of the threat
  • Help justify Ransomware investigations
  • Contribute relevant information to ongoing Ransomware cases

Help Arm The FBI With Information

The recent PSA released by the agency requests that all Ransomware victims reach out to their local FBI office and/or file a complaint with the Internet Crime Complaint Center. Be sure to have the following details available and ready to provide to the respondent when prompted (if applicable).

  1. Date of Infection
  2. Ransomware Variant (identified on the ransom page or by the encrypted file extension)
  3. Victim Company Information (industry type, business size, etc.)
  4. How the Infection Occurred (link in e-mail, browsing the Internet, etc.)
  5. Requested Ransom Amount
  6. Actor’s Bitcoin Wallet Address (may be listed on the ransom page)
  7. Ransom Amount Paid (if any)
  8. Overall Losses Associated with a Ransomware Infection (including the ransom amount)
  9. Victim Impact Statement

The FBI recommends users consider implementing prevention and continuity measures to lessen the risk of a successful Ransomware attack. Click here to read the FBI’s complete announcement.

To learn more about protecting your business from cybercrime, download the free whitepaper, “Cybercrime: The Invisible Threat That Haunts Your Business.”

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How To React To A Data Breach

Tuesday, August 2nd, 2016
Data Breach | Columbus Cybersecurity Series | Ohio CPA Firm

Would you be able to effectively manage the fallout of a data breach? If you aren’t sure, keep reading.

It was 2013 when a medium-sized library in Ohio found itself in the midst of a data breach that would later serve as a powerful case study warning against the very real threat of electronic fraud. While originally developed by the Ohio Auditor of State’s office as a tool for government entities throughout the state, Cash Management 240: Financial Fraud – A Case Study, has found usefulness beyond just the government sphere.

Leaders of not-for-profit organizations and for-profit business owners would also find value in this resource, which outlines:

  • the events that resulted in the occurrence of the data breach,
  • the reaction of entity officials during and after the breach was detected, and
  • the short- and long-term outcomes that resulted from the breach.

While I strongly recommend that you read the entire case study, I provide a brief overview of the story below.

How would you respond to a data breach?

Library officials were notified of the occurrence of fraudulent activity impacting the entity’s checking account in March of 2013. According to the bank, the fraudulent activity appeared to be limited to three transactions, totaling $144,743. Fortunately, bank officials were proactive in their efforts to recall the transactions.

In an effort to avoid further fraudulent activity, library officials decided to disconnect the accounting workstations from the entity’s network and proceeded to contact their technology vendor, who advised the library proceed with reformatting both accounting workstations immediately. Soon thereafter, library officials contacted the local police station to report the incident, closed the entity’s existing bank accounts and opened new ones, and notified employees of the data breach as well as the board of directors.

Due to the nature of the breach, it didn’t take long before the Ohio Auditor of State’s office and the FBI were notified of the incident as well. And, in an effort to try and reclaim some of the money that was stolen, a claim was filed with the entity’s insurance carrier. Finally, the library’s bank was able to successfully recover $54,910 of the amount that was stolen. In 2014, when the case study was released, the library was still in the process of negotiating with the bank regarding $89,833 that was still missing.

So, what do you think? Would you say that the library officials were effective in their management of the data breach? What would you do if your company or nonprofit found itself in a similar situation?

Well, according to the FBI, the library could have handled the situation better. For example, the library should have not reformatted the workstations. The FBI and local police force should have been contacted immediately. And finally, the entity should have followed all instructions mandated by the bank to eliminate the possibility of such fraudulent activity.

Since it’s 2013 data breach, the library:

  • Is now required by the bank to follow the ACH Originator Agreement.
  • Has designated one stand-alone PC to be used for online banking.
  • Has requested online access from only one IP address
  • Has purchased a cybercrime policy.
  • Revisited its banking RFP to include a section regarding online banking security minimums.

Do you have a plan to help deter cybercrime?

The above scenario is just one of the countless cybercrimes that occur every day and every type of businesses, entity and organizations are being impacted. If you don’t have a plan in place to help prevent cybercriminals from infiltrating your network and stealing your data for financial gain, or a strategy to recover once a breach has been identified, you are in a very vulnerable position.

I believe that in order to protect against a cybercrime attack, it’s important to be armed with as much knowledge as possible. On Sept. 7, 2016, FBI Agent David Fine will be the featured presenter of part two of the Columbus Cybersecurity Series. During this portion of the presentation, attendees will hear real-life examples of attacks on businesses, including what schemes are prevalent today. Audience members will also discover the very real impact these attacks have on companies and what they can do to deter an attack from occurring in their own business or organization.

The Columbus Cybersecurity Series is free to attend, but registration is required. You can RSVP here.

By Joe Welker, CISA (New Philadelphia office)

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