The recent news of several US government agencies being hit by a global cyberattack by a Russian ransomware group called CLOP has raised serious concerns about the security of critical data and systems. The hackers exploited a vulnerability in a widely used file transfer software called MOVEit, which many organizations use to share sensitive information internally and externally. According to the US Cybersecurity and Infrastructure Security Agency (CISA), hackers could access and encrypt data from various federal agencies, including the Energy Department and state governments, universities, and corporations. The hackers then demanded ransom payments from the victims to restore their data, threatening to leak or sell it otherwise. This attack is another reminder of the growing threat of ransomware, which has become one of the most lucrative and disruptive forms of cybercrime in recent years. Ransomware attacks can cause significant financial losses, operational disruptions, reputational damage, and legal liabilities for organizations of all sizes and sectors. At BMIT, we are committed to helping our clients…
Nicholas SalemJune 16, 2023