CS Energy, one of Australia’s largest energy producers, was the subject of a ransomware attack in late November. The exact target of the attack was its corporate networks, confirmed CEO Andrew Bills. Fortunately, CS Energy staff reacted quickly enough to prevent widespread damage – segregating affected networks to stop the spread of the attack further down the line. It also confirmed that energy production was not affected, and that it would be able to continue to supply customers as normal. This attack is the latest in a string of incidents targeting critical national infrastructure.
Companies that supply water across the USA are on red alert for a potential cyberattack. According to Jeh Charles Johnson, former US Secretary of Homeland Security, all companies should make preventing attacks their first priority – especially those that supply vital goods. Johnson cited the example of the Colonial Pipeline attack in May 2021. The hack caused widespread panic and confusion, and left millions on the east coast of the USA without fuel. Johnson warned that such far-reaching consequences make an exciting target for hackers, who may look to encourage ransom payments by causing as much damage as possible.
US Coast Guard Rear Admiral John Mauger has warned that cyber warfare is the biggest threat to maritime transport. According to Mauger, the world is struggling to keep up with demand for goods. While this includes scarcity of goods, it also includes the speed at which goods can be moved. Ports are understaffed and overcrowded, with ships waiting to be allowed to dock. Mauger says that a cyberattack on this already strained system could mean huge problems for almost every industry. Large shipping providers, such as Maersk, have already been the target of ransomware, and Mauger believes it is a matter of time before attackers try again.
Security Magazine has labelled ransomware gangs the ‘mafia of the 21st century’. The reasons why may surprise you. Of course, ransomware gangs have behaved in a very mafia-like way in recent years, with the rate of attacks exploding worldwide. They’ve taken millions of dollars in payments from companies desperate to avoid the consequences of not paying, and they’ve done so in a very cold, business-like way. But Security Magazine believes the real reason they are the modern-day mafia is that ransomware gangs are maturing. Gangs are merging, hackers are moving between positions, and they are even starting to sell their products to amateur hackers. With this increased maturity comes further danger from more sophisticated attacks on personal and corporate systems everywhere.
A report from Blackfog has revealed that 244 successful publicised ransomware attacks have taken place so far in 2021. The actual number of hacks will be considerably higher, but very few hacked companies reveal that information. It is also an increase of 25 per cent from 2020. The report also shed light on the industries that have been most affected by ransomware attacks. The unfortunate leader was the government sector, with almost 20 per cent of all attacks. Closely behind were education and healthcare, with everyday services and technology firms next. What this shows is that hackers target high value, high disruption key services – and they’ve been very successful.
A professional hacker, writing in the Financial Times, has some advice for businesses: Assume I am already inside your system. The hacker described how companies place far too much of their security effort on preventing attacks, saying that there is “always a way in”. Businesses should, in fact, concentrate on how they can protect data and mitigate attacks, and that many are unprepared. The hacker stated that 99 per cent of his successful attacks begin by gaining entry via stolen passwords. Once inside, many passwords give privileged access to centralised systems and allow attacks to cascade to other systems, often resulting in ransomware waves. The best defence against such attacks is a decentralised password system, such as MyCena. Users are assigned a unique password they never have to know, avoiding stolen passwords and human error. By combining this with encryption and segmented systems, businesses will be cyber-resilient by default.
