A report released by Tokio Marine on the cyber incidents that are most likely to occur in 2021. It offers valuable insights for businesses and organizations preparing for potential attacks. The top 10 incidents identified in the report include ransomware, insider threats, and data breaches. By understanding these threats and taking steps to protect their networks and data, businesses can reduce their risk of a cyber incident impacting them.
In this report, we will look at each of the top cyber incidents in more detail. Then, provide advice on how to reduce the likelihood they may occur. The report named the top 10 cyber incidents in 2021 as:
1. Kaseya
Kaseya is a vendor providing IT solutions that managed service providers (MSPs) can use to service their clients. They provide VSA software MSPs use to remotely manage client networks, allowing IT staff to monitor and manage systems from anywhere.
On July 2, 2021, the company suffered a cyber-attack that led to hackers stealing data from its systems. The incident highlights how even highly secure companies can be vulnerable to cyber criminals. Businesses can protect themselves from any similar incidents through strong access control mechanisms and the use of multi-factor authentication for critical systems.
2. Microsoft Exchange Server
On March 3, 2021, cybersecurity and infrastructure security agency CISA issued an emergency directive warning of a critical vulnerability in the Microsoft Exchange Server. The vulnerability allowed attackers to gain access to emails, files, and even the entire network.
Organizations should ensure they are running the latest version of Microsoft Exchange and implement additional security measures such as endpoint detection and response (EDR) tools. Also, it is also important to monitor networks closely for suspicious activity and update all systems in response to any new threats.
3. SITA
On March 4, 2021, SITA, a global provider of IT services to the airline industry, suffered a significant breach of data. The company made numerous updates to its systems in response to the attack and implemented additional security protocols.
Businesses should ensure their networks are secure by using firewalls and intrusion detection systems. Also, they should implement proper access control measures such as multi-factor authentication.
4. Colonial Pipeline
On May 7, 2021, the Colonial Pipeline suffered a major ransomware attack which caused significant disruption to the US fuel supply. The incident highlights how vulnerable businesses can be to cyber criminals who use ransomware as a way of extorting money.
Organizations must ensure they have robust incident response plans in place and that they tested and updated them regularly. Additionally, businesses should invest in security solutions that are capable of detecting and mitigating ransomware attacks.
5. Pichincha
In October 2021, Ecuador’s largest bank, Pichincha, suffered a major data breach that resulted in the theft of customer information. The incident highlights how even well-protected organizations can be vulnerable to cyber criminals and emphasizes the importance of having strong cybersecurity protocols in place.
Organizations should ensure they are running up-to-date security solutions and implement access control measures such as multi-factor authentication. Additionally, they should monitor their networks for suspicious activity regularly and have a comprehensive incident response plan in place.
6. Belarusian
On Nov. 8, 2021, the Belarusian Ministry of Defense suffered a major cybersecurity attack that led to the theft of sensitive data. The incident highlights how easily hackers can exploit weaknesses in government systems and emphasizes the importance of strong security protocols.
Organizations should ensure they are using firewalls and intrusion detection systems. Also, they should patch their networks and update their systems regularly in response to any new threats. Moreover, organizations should invest in security solutions that can detect and mitigate cyber-attacks.
7. Poly Network
Poly Network facilitates the transfer of digital assets between different blockchains and is part of the Polkadot network. On August 10, 2021, hackers were able to exploit a vulnerability in Poly Network’s smart contract and steal over $610 million worth of digital assets.
Organizations should ensure they are running up-to-date security solutions and implement access control measures such as multi-factor authentication. Additionally, businesses should monitor their networks for suspicious activity regularly and have a comprehensive incident response plan in place.
8. RENAPER
On October 9, 2021, the Argentine National Registry of Persons (RENAPER) suffered an attack resulting in the theft of data belonging to over two million citizens. The incident highlights how vulnerable government systems can be and emphasizes the importance of having strong security protocols in place.
Organizations should ensure they are using firewalls and intrusion detection systems, along with patching their networks and updating their systems regularly in response to any new threats. Additionally, organizations should invest in security solutions that can detect and mitigate cyber-attacks.
9. Apache Log4j
On Dec. 9, 2021, hackers were able to exploit a vulnerability in the Apache Log4j library. This allowed them to gain access to sensitive data stored on servers around the world. The incident highlights how hackers can exploit weaknesses easily in open-source software and emphasizes the importance of secure coding practices.
Organizations should ensure they are implementing secure coding practices, along with testing their applications for vulnerabilities regularly. Additionally, businesses should invest in security solutions that are capable of detecting and mitigating code-related threats.
10. Volkswagen USA
On March 10, 2021, Volkswagen USA suffered a major data breach which resulted in the theft of customer information. The incident highlights how cybercriminals can exploit weaknesses in organizations and emphasize the importance of having strong security protocols in place.
Organizations should ensure they are running up-to-date security solutions and implement access control measures such as multi-factor authentication. Additionally, they should monitor their networks for suspicious activity regularly and have a comprehensive incident response plan in place.
According to Tokio Marine’s report, these were the top 10 cyber incidents of 2021. All the above examples highlight how easily hackers can exploit weaknesses in organizations and emphasize the importance of having strong security protocols in place. Organizations should ensure they have security measures such as firewalls and anti-virus software, along with access control measures such as multi-factor authentication in place. Additionally, they should regularly monitor their networks for suspicious activity and have a comprehensive incident response plan in place. By taking the necessary steps to protect their data and systems, organizations can reduce the risk of becoming victims of cyber-attacks.
If you are looking for more information on how to protect against cyber-attacks, our team at SwiftTech Solutions can help. We offer a range of services including cyber security assessments. Contact us today to learn more.
Source: https://www.tmhcc.com/en/news-and-events/top-10-cyber-incidents-2021