Cyberattacks have become increasingly devastating and are causing significant damage to targeted companies before resolution is achieved. CDK Global, a provider of software for car dealerships, is currently experiencing a crippling cyber incident that has disrupted operations for days with no end in sight. This attack is just the latest in a series of high-profile cyber incidents that have garnered attention.
In May, Ascension, a nonprofit network of hospitals based in St. Louis, was the target of a cyberattack that forced the diversion of ambulances from multiple hospitals. The incident took nearly a month to fully resolve. Earlier in the year, Change Healthcare, a subsidiary of UnitedHealth Group, fell victim to a ransomware attack resulting in billing disruptions at pharmacies across the US. The attack also posed a threat to the financial stability of some healthcare providers.
Experts have noted that hackers are becoming more sophisticated and are able to remain undetected within an organization’s systems for extended periods. By targeting companies in a supply chain-style attack, hackers are capable of causing widespread disruptions that can result in massive financial gain. Industries with outdated systems, such as healthcare, are particularly vulnerable to these attacks.
Ransomware attacks, like the ones experienced by CDK Global and others, often originate from avenues like phishing emails. These breaches can go unnoticed for days or weeks as hackers move laterally through an organization’s systems. The deployment of ransomware is swift and broad-reaching, leaving victims locked out of important files and receiving digital ransom demands.
As companies increasingly rely on interconnected systems and third-party providers, the complexity of their networks makes them more susceptible to cyberattacks. Organizations may find it challenging to maintain robust cybersecurity measures in the face of evolving hacker tactics. Experts emphasize the importance of incident response exercises and modernizing cybersecurity infrastructure to mitigate the impact of cyber incidents.
The healthcare sector, in particular, has been targeted by ransomware attackers, leading to significant disruptions in patient care. Healthcare organizations are urged to bolster their cybersecurity defenses and seek third-party expertise to enhance their security posture. Efforts to establish mandatory cybersecurity standards for publicly traded companies are also being proposed to mitigate cyber risks.
While the threat of cyberattacks looms large, organizations must remain vigilant and proactive in safeguarding their systems against evolving threats. The ongoing cyber incidents underscore the need for businesses to prioritize cybersecurity measures and stay ahead of malicious actors seeking to exploit vulnerabilities in their networks.
