Cyber attacks are becoming more common than ever before. Although, this is not really that surprising, being that we now employ more cyber technologies within our daily operations than ever. Of course, these cyber implements can be valuable targets for attackers. There are certain industries that tend to be much more frequently targeted by malicious attackers due to the wide range of valuable data that they hold. This includes healthcare and governmental organizations, and of course, financial organizations. The reason that attackers heavily target the latter is quite obvious, being that they store massive amounts of financial data that can be used by attackers to achieve illicit gains. In a recent attack on a financial organization, the global accounting firm Deloitte was hit by a cyber attack that resulted in a breach of some of it’s larger client’s confidential data and plans.
Deloitte is part of the “Big Four” accounting firms, which are the four largest professional services networks in the world. Deloitte confirmed that they had suffered a cyber attack, but they also said that it only impacted a small number of clients. According to The Guardian, the hack was discovered in March, but the initial breach could have occurred as early as October or November 2016. The attack is believed to have been targeted at the U.S. operations of Deloitte, with this including tax advice, auditing, and consulting of governments and multinationals all around the globe. The accounting firm has remained somewhat tight-lipped regarding the incident, and they said that they would be issuing a statement soon. Once this statement is released, perhaps we will be informed regarding the method of attack and what information was affected.
Deloitte seems to be placing a large focus on addressing the incident. They said that they had implemented their comprehensive security protocol, began an intensive and extensive review, and employed confidentiality and cybersecurity experts outside and inside of the company. Deloitte said that they notified those affected and government regulators and authorities. This attack comes at an interesting time, being that in their last annual report, Deloitte had described cyber analytics as a “high growth area.” They also said that they had developed a network of “Cyber Intelligence Centres” to assist clients in various cyber security areas. This recent event may very well impact them in that area, being that it shows their own cyber security was lacking in some way.
Deloitte’s response to the breach is admirable, being that they are taking all of the necessary steps to mitigate the breach. There are numerous actions that need to be rapidly taken in the event of a breach, such as notifying those affected, bolstering security, and removing any leaked data from the web. All of these steps come under the heading of data breach solutions. Neglect in any of the above areas, along with a few others, can result in much further detriment from a breach. Realistically, an improperly handled data breach can cause an organization to fail. A large factor in this is the heavy impacts to reputation and customer trust, which are obviously much worse when an organization does not demonstrate adept handling of a breach. It is usually possible to come back from a breach, but only when appropriate data breach solutions are quickly and comprehensively implemented. To do otherwise is simply putting the organization’s longevity at risk. Massive Alliance offers comprehensive data breach solutions that can assist organizations in mitigating a breach to the fullest possible extent.