Third-Party Breaches Present a Serious Risk

While everyone is well aware of the comprehensive threat landscape facing today’s companies, many forget that this threat is amplified when third-party partnerships are involved. As this week’s newsletter reminds us, these often necessary associations can place your company’s data at risk in a major way, and it’s a risk factor that every business should consider when exploring new collaborative opportunities. 

For instance, many vendors are so overwhelmed by data breaches that they struggle to bring their services back online, if they survive at all. In either case, your company’s data may not be their top priority, which puts your business at risk. 

Naturally, third-parties have a vested interest in pursuing what’s best for themselves, an inherent liability that every business should evaluate when making decisions. In today’s regulatory environment, organizations face intense scrutiny when a data breach occurs, even if it doesn’t originate at your company. That threat should give every company working with third parties a reason to carefully consider cybersecurity implications before signing the contract.

https://securityboulevard.com/2019/12/the-hidden-cost-of-a-third-party-data-breach/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas

DArkweb Trends

hackers gain front door access to company IT infrastructure, ransomware cripples social services, and lax employee password security continues to present severe financial risk. 

Dark Web ID Trends:

Top Source Hits: ID Theft Forums 
Top Compromise Type: Domain 
Top Industry: Finance & Insurance
Top Employee Count: 101 - 250 Employees 

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas

The SHIELD Act Webinar | Are You Prepared for the New Cybersecurity Law?

https://info.bitxbit.com/?hs_preview=pBYofWuW-23922774427

New York SHIELD Act:   What It Is & How It Applies to You Be Prepared as New Data Security Requirements Take Effect March 21, 2020 Wednesday, January 29th  | 11:30 AM - 12:15 PM EST Save My Seat! Join Bit by Bit and Arctic Wolf for a webinar to learn how to navigate the waters of SHIELD (Stop Hacks and Improve ELectronic Data,) the recently-passed New York state cybersecurity law with new requirements effective March 21, 2020. If you store or license any New York state resident information, this webinar is for you. You’d be surprised what is now considered private information and the new definition of a breach. And, you'll need to adopt safeguards for information security, confidentiality, and integrity while implementing a data security program encompassing risk assessments, employee training, vendor contracts, and timely data disposal. Bit by Bit and Arctic Wolf are teaming up to provide the education and solutions to help you comply with SHIELD and avoid steep penalties that could cost your organization valuable time and money.  We've been helping companies throughout New York and beyond comply with HIPAA, PCI, NYS DFS, and other regulations and it's time for us to help you get up-to-speed and compliant with SHIELD.  In this informative session, you will learn: What is the SHIELD Act What information does it cover How you can comply with the March 21, 2020 requirements Penalties for non-compliance Save My Seat! Our Presenters Jeff Miller Channel Account Manager Arctic Wolf Networks Jeff Miller is a unique blend of engineer, teacher and evangelist for all things cybersecurity. His roots in cybersecurity stem from his engineering degree and tenure at the nation's second largest law firm where he regularly defended against ransomware, the hacktivist group Anonymous, distributed denial of service attacks, and other threats. Jeff educates organizations on how to adhere to security regulations and best practices around cybersecurity. He lives, breathes, and bleeds it. It's not just what he does; it's who he is. Alex Lane Systems Engineer Bit by Bit Alex Lane has worked with Bit by Bit for four years. As Security Engineer, he brings his expertise in defensive security to build and enhance the security programs of internal and client environments. Alex participates in many prominent security conferences and community events. He spends much of his free time studying offensive and defensive techniques and attacking capture the flag (CTF) challenges. Bit by Bit, 115 West 29th Street, 4th floor, New York, NY 10001

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831

60% of Digital Businesses Will Suffer Service Interruption by 2020

For many businesses, an online presence is a vital part of their competitive strategy. Unfortunately, it’s also creating their most prescient vulnerability. According to a recent study by Gartner, by next year, more than half of all digital businesses will incur one or more cyber threats that will significantly disrupt their business. 

The report notes that cybercriminals are aware of the increasingly critical and valuable data sets that companies are bringing online, and they are targeting that information to turn a profit. It also found that products for perpetuating cybercrime such as pre-packaged ransomware and phishing capabilities, have never been more prevalent, with an underground marketplace fueled by the Dark Web. 

In response, companies with a digital agenda have a responsibility to audit their defensive posture, ensuring that they are prepared to meet the moment by identifying and addressing the latest cyber trends. Notably, most cyber threats can be addressed in-house by ensuring that employees are able to identify risks and implement best practices, like strong unique passwords, and two-factor authentication across all their accounts.
https://www.cio.com/article/3325796/by-2020-60-percent-of-digital-businesses-will-suffer-major-service-interruptions.html

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas

Too Many Businesses Are Paying Ransom Demands

Ransomware attacks have been one of the definitive cyber threats of 2019, and, despite their growing prominence, business leaders are still struggling to determine the most effective response. 

Unfortunately, many organizations are bending to hackers’ demands by paying the ransom to retrieve their data. In fact, the number of organizations giving in to extortion demands have more than doubled this year. In total, nearly 40% of businesses breached by a ransomware attack are paying criminals to decrypt company data. 

This trend goes against the recommendations of law enforcement agencies and many cybersecurity experts who fear that ransom payments will embolden criminals to continue attacking businesses, schools, and government facilities. In addition, as we’ve noted in this week’s newsletter, making a ransom payment doesn’t guarantee that data will be recovered.

Of course, even those that don’t pay the ransom will not escape unscathed, as the cost of recovery can be as steep as the ransom itself. However, SMBs do have the power to protect themselves. By ensuring that their software is up-to-date and that their accounts are secure through simple features like two-factor authentication, they can take away many of the footholds that hackers use to infect businesses with this costly malware.

https://www.zdnet.com/article/ransomware-the-number-of-victims-paying-up-is-on-the-rise-and-thats-bad-news/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas

More Than Half of All Organizations Admit They Aren’t Ready for Cyberattack

Data security incidents continue to make headlines (and fill Week in Breach newsletters) every week. Even so, a recent survey found that most organizations still aren’t prepared for the veritable inevitability of a data breach. 

Indeed, more than 800 CISOs from three continents expressed similar sentiments about their data security standards. Notably, 51% do not believe that they are ready to respond to a data breach, while nearly a third have untested response plans in place. 

Meanwhile, the vast majority believe that the cybersecurity landscape will worsen or stay the same in the year ahead. Perhaps that’s why 76% plan to increase their cybersecurity budgets in 2020. When establishing their priorities, CISOs identified security software and employee awareness training as their top priority. As it stands, too many companies aren’t responding to the real and escalating threat of a data loss event.

https://www.intelligentciso.com/2019/12/02/fireeye-research-reveals-51-of-organisations-dont-believe-theyre-ready-for-cyberattack/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas

Alert for Potential Iranian Cyber Response to U.S. Military Actions

Hi Robert, If you've been following the news lately, you've heard about the recent events between the United States and the Islamic Republic of Iran. The Cybersecurity and Infrastructure Security Agency (CISA) has issued an alert in regard to cybersecurity and Iran's historic use of cyber offensive activities as retaliation. Patterns of known Iranian threat techniques include: credential dumping, obfuscated files or information, data compressed, PowerShell, user execution, scripting, registry run keys/startup folder, remote file copy, spearphishing link, and spearphishing attachment. We want to make you aware of the information shared so you can protect yourself, your company, and your customers. The CISA recommends taking the following actions: Adopt a state of heightened awareness. This includes minimizing coverage gaps in personnel availability, more consistently consuming relevant threat intelligence, and making sure emergency call trees are up to date. Increase organizational vigilance. Ensure security personnel are monitoring key internal security capabilities and that they know how to identify anomalous behavior. Flag any known Iranian indicators of compromise and tactics, techniques, and procedures (TTPs) for immediate response. Confirm reporting processes. Ensure personnel know how and when to report an incident. The well-being of an organization's workforce and cyber infrastructure depends on awareness of threat activity. Consider reporting incidents to CISA to help serve as part of CISA's early warning system. Exercise organizational incident response plans. Ensure personnel are familiar with the key steps they need to take during an incident. Do they have the accesses they need? Do they know the processes? Are your various data sources logging as expected? Ensure personnel are positioned to act in a calm and unified manner. Stay safe! Kevin Lancaster & The ID Agent Team P: 844.ID.AGENT E: marketing@idagent.com | W: www.idagent.com ID Agent, 16701 Melford Boulevard, Suite 127, Bowie, Maryland 20715, USA, 844-ID-Agent