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Go Inside the Ink to See What’s New in Cybersecurity and Threat News This Week



NEW THIS WEEK IN CYBERSECURITY AND THREAT NEWS: MUST-READ BLOGS



SPECIAL EDITION: BACK TO SCHOOL CYBERSECURITY THREAT WEEK!


We publish new posts every weekday featuring cybersecurity and threat news, insight, analysis, and solutions to help you prepare for the threats of tomorrow. BOOKMARK IT>>


THE THREAT OF THE WEEK & HOW TO STOP IT


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Blackbaud Data Breach Illustrates the Risk of Data Danger From Third Party Cybersecurity Incidents.



The butterfly effect applies to cybersecurity and threat news too – and a recent breach at fundraising software and services provider Blackbaud has sent shockwaves around the world.

When you contract another company to provide an essential service, you expect that they’re not only going to use their expertise to fill your need, they’re also going to keep your information safe. Unfortunately, that’s increasingly proving to be a challenge – and a risk for every business.

For example: universities, alumni associations, professional groups, charities, trusts, hospitals, foundations, museums, schools – all sorts of institutions that draw an operating budget from fundraising support have been impacted by the ransomware attack that rocked Blackbaud in late May 2020.

Although the company has been cagey about exactly what happened and how much data was stolen, cybersecurity news reports have generally agreed that the partially-thwarted ransomware incident resulted in the donor information of hundreds of non-profits ending up in the hands of cybercriminals.

Paying the ransom is no guarantee that your data will be safely returned – there’s no honor among thieves. Blackbaud ended up paying the cybercriminal gang a substantial ransom for the key to decrypt the portion of their database that was frozen in the attack, but there’s no proof that the information wasn’t sold or copied before the encryption key was delivered.

The company has also compounded the damage by shrouding the entire incident in secrecy. A class-action lawsuit was just filed for malpractice. Not only has its reputation been damaged in the non-profit sector, but it will likely also incur substantial fines for missing the GDPR reporting deadline and other mistakes.

The impact is still becoming apparent as the ripple effect spreads. Over 200 large and small charitable organizations in the US and UK have been affected, from Britain’s National Trust (including a particularly ironic hit at Bletchley Park) to the Vermont Food Bank. The damage is still being assessed and the fallout is expected to continue for months.

This third-party breach was a disaster for non-profits, but the same thing can happen to any business. In an increasingly dangerous threat landscape with a huge increase in Dark Web activity and phishing attacks, protecting a company’s data and systems from cybercriminals armed with data that they obtained from another breach is a major cause for concern.

THE THREAT

My company’s information was stolen in a data breach at one of our vendors or service partners like BlackBaud. What can I do now to protect my systems and data from cybercriminals?

STOP IT

Immediately deploy a multifunctional secure identity and access management solution that allows you to control the gateways into the heart of your business with cybersecurity essentials like:

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JOIN US THIS WEEK FOR CONNECT IT GLOBAL

AUGUST 24 -29, 2020



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  • We promised exciting news and surprises, and we aim to deliver. THE ID AGENT 2020 ROADMAP with ID Agent CEO and General Manager of Security Services at Kaseya, Kevin Lancaster is the must-see panel of the event, because we’ve got some awesome things in store for you!
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