United Kingdom – Tissue Regenix
Exploit: Malware attack
Tissue Regenix: Medical technology company
|Risk to Small Business: 1.888 = Severe: A malware attack forced Tissue Regenix to take its systems offline, which negatively impacted its short-term production capacity. Tissue Regenix hired cybersecurity experts to eradicate the malware, but the immediate financial repercussions were immense. The company’s shares dropped by 22% after the announcement. Researchers believe that the malware entered their network through a third-party, highlighting the importance of a 360-degree defensive posture that accounts for all possible risks.
Individual Risk: No personal information was compromised in the breach,
Customers Impacted: Unknown
How it Could Affect Your Customers’ Business: There are many ways that a data breach can impact a company’s financial outlook. In this case, the impact was immediate and intense. For businesses grappling with the cost of data security measures, this episode is a reminder that the cost of inaction can far exceed those of an effective cybersecurity strategy.
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United Kingdom – Dundee College
Dundee College: Academic and research institution
|Risk to Small Business: 1.666 = Severe: A ransomware attack disabled Dundee College’s entire IT infrastructure, canceling classes and requiring thousands of students to reset their account credentials. Currently, the outage has lasted more than a week, and it includes access to student records, educational material, and online learning portals. The event takes place at a critical time for the school, as they are conducting interviews for future students. In addition, the incredible recovery cost and reputational damage will facilitate a serious blowback to the college’s financial viability.|
|Individual Risk: 2 = Severe: At this time, it’s unclear if personal data was compromised in the ransomware attack. However, Dundee College requires all students to reset their passwords before accessing their school accounts.|
Customers Impacted: 5,000
How it Could Affect Your Customers’ Business: Ransomware attacks come with a litany of consequences, ranging from reputational damage to regulatory penalties and lost business. At the same time, cybercriminals are increasingly taking their attacks a step further by stealing company data before they encrypt it, increasing the impetus for companies to develop a comprehensive response strategy. Identifying compromised data and its whereabouts on the Dark Web or hacker forums is an excellent place to start.
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Compromised credentials are used to conduct further criminal activity. Employees often use the same password for multiple services, such as network login, social media, and SaaS business applications, exponentially increasing the potential damage from a single compromised credential. Limited visibility when credentials are stolen; over 75% of compromised credentials are reported to the victim’s organisation by a third party, such as law enforcement. Click here now for a preliminary FREE Dark Web Scan for your business