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What can we all learn from the Travelex cybersecurity breach

What’s happened at Travelex?

Travelex, the worlds largest foreign exchange bureau has been the victim of an extensive cyberattack. Travelex’s network has been infected with Sodinokibi ransomware, and attackers claim to have copied more than 5GB of users’ personal data. Reports suggest this could include; dates of birth, social security numbers, card information and other details, and a ransom demanding $3 million has been issued. Currently, Travelex is still offline as they work to recover their systems.

 

How has this happened?

Investigations into what has happened are still ongoing, claims have been made that Travelex was running insecure services prior to the attack and updates or patches had not been properly installed. Travelex had been warned that it was running vulnerable Pulse Secure virtual private networking (VPN) servers so this could have been the point of weakness however the VPN company denies any issues and says it does not have any data about the attacks.

 

What is the Sodinokibi ransomware?

Sodinokibi, also known as Sodin and REvil, is highly evasive, and takes many measures to prevent its detection by antivirus and other means. It exploits vulnerabilities in servers and other critical assets and also infects via phishing attacks. Sodinokibi is able to completely incapacitate a business by preventing the access of data and critical assets of a target machine, among other damage. It is known to typically add random extensions to files encrypted on computer systems. In Travelex’s case, the encrypted files were also found to have extensions comprising more than five random characters. This ransomware was first identified in early 2019 where attackers had been exploiting a flaw in Oracle Weblogic to spread the ransomware.

 

What steps can organisations take to prevent it happening to them?

  1. Back up your data (frequently)
    When organisations are victims of a ransomware attack typically their data is stolen and encrypted with the only means of retrieving it paying a ransom (although even if you do pay you are still not guaranteed your data). However, if you regularly back up your data you will be able to restore from a backup and will not need to pay the ransom to gain access to your data. It is advisable to have the backup stored in more than one place, usually a cloud solution and a physical solution and to encrypt backups to ensure the data is secure. Remember, the infection spreads, so you don’t want to rely on a back up device that is attached to your network – if you back up to a NAS drive, for example, make sure that drive is physically removed from the network, so the encryption doesn’t spread to your back up as well as your live data.
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  3. Install updates and patches as soon as possible
    By installing updates regularly, you will reduce your risk of ransomware attacks. Plenty of malware is designed to exploit security holes already identified common applications, patches and updates are the software company’s way of fixing those holes, to make sure you’re running updates on servers, PCs, laptops, Macs and mobile devices as soon as they are released.
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  5. Comprehensive and regular staff awareness and training
    IT security is 50% infrastructure, and 50% user training. Humans are often the weakest link in the cybercrime world and are exploited to ‘open the door’ to the cybercriminal. And yet few businesses ensure that their teams regularly receive up-to-date training on good practice and cybersecurity awareness. Training should be applied across the board and should be programmed to happen regularly. All users should understand how real a threat cybercrime is and should understand basics like; how to be secure online, how to recognise suspicious emails, how to recognise when they are being duped in to providing information that might help an attacker to gain access and how to respond if they do fall victim to an attack.
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  7. Robust firewall and spam filters.
    Ensuring the devices that protect the perimeter of your organisation, such as your firewall and spam filters are robust, up to date and properly configured can help to filter out some suspicious emails and if configured properly, can also help to prevent your own email accounts being spoofed and used to distribute viruses under your name.
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  9. Have a strong and enforced password policy
    A proper password policy is vital, as weak passwords are like an unlocked door for cybercriminals. Passwords should be kept secret (so not written on a post-it note and left on people’s desk!), they should be long and complicated (with a mixture of upper and lower-case letters, numbers and symbols) Users should use different passwords for different applications and they should be changed frequently.

 
For more information on ransomware and how you can protect your organisation contact ramsac on 01483 412040 or email cybersecurity@ramsac.com

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