EY recommends actions which can help reduce impact and protect from further cyber attacks by WannaCry and other ransomware
Toronto, ON (May 15, 2017) – In light of recent cyber attacks focused on global organizations through ransomware, EY is urging organizations worldwide to take immediate action and engage effective response measures to mitigate the effect of these attacks and help protect themselves against future attacks.
“The recent wave of cyber attacks is proof that cyber criminals are becoming more aggressive and sophisticated, simultaneously targeting all kinds of interconnected organizations across the globe,” says Paul van Kessel, EY Global Advisory Cybersecurity Leader. “A cyber criminal’s greatest ally is complacency. Whether you are a Fortune 500 company or a family-owned business, if you don’t take cybersecurity seriously, you are at significant risk of being attacked. EY is closely monitoring the attacks and we urge everyone to take steps that can help keep critical systems and data safe.”
The risk of being attacked increases exponentially when preventative measures are not taken. Failure to take incident response equally seriously can mean the difference between hours and days versus weeks and months of system compromise and outage. There are six actions organizations can take now to help protect their systems, their most valuable assets and their customers, while mitigating against potential damage from emerging threats:
- Disconnect infected machines from the network and take all backups offline because they also could become encrypted if left connected to the network.
- Activate your incident response plan and don’t treat the investigation as merely an IT issue or exercise. Ensure there is cross-functional representation in the investigation team, including legal, compliance, information security, business, public relations, human resources and other departments.
- Identify and address vulnerabilities in your connected ecosystem; sufficiently install security updates, malware detection and anti-virus detection to complicate attackers’ efforts to get back in; enhance detection and response capabilities for future attacks; and prepare for eradication events.
- Ensure your systems are patched before powering up PCs. Keep systems up to date with a robust enterprise-level patch and vulnerability management program. This should include a formal, repeatable life cycle to manage vulnerabilities based on risks as they evolve, and a comprehensive asset model that focuses on the exposure of assets to these risks, including any connectivity to other assets.
- Activate business continuity plans. Prepare data based on varying requirements for regulatory reporting, insurance claim and dispute, litigation, threat intelligence and/or customer notification.
- Collect and preserve evidence in a forensically sound manner so that it is conducive to investigation, and reliable and usable in civil or regulatory matters.
“Malware outbreaks such as WannaCry require companies to respond in a comprehensive and defensible manner,” says David Remnitz, EY FIDS Global Forensic Technology and Discovery Services (FTDS) Leader. “Even after the data is restored, companies sometimes face allegations that sensitive personnel-related or other business information had been compromised in the ransomware attack. Third parties and other stakeholders may require the company to demonstrate forensically that, even if the data was accessed, it was not stolen.”
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
In March 2017, globally respected research and publishing company Cybersecurity Ventures ranked EY No. 4 of the top 500 organizations to watch in the cybersecurity industry, cementing EY as a leading player in the cybersecurity industry. EY’s ranking was higher than any other cybersecurity consulting firm.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
Source: EYGM Ltd. for Ernst & Young