Last month’s revelation that Okta had been hacked created a seismic impact in the world of security, with organizations still bracing themselves for the fallout from this incident. While resources, like Microsoft’s article on Lapsus$ (tracked as DEV-0537), have broadly dissected the attack vectors used in the group’s attacks, we wanted to expand on the broader trends and context surrounding the Okta hack.
Has your business experienced one of the Top 5 Security Breaches of 2021? Sadly, many have. As businesses become more reliant on technology, the risk of becoming a victim of a data breach only increases. Unfortunately, the United States exceeded the previous record of cyber attacks in a single year. In 2017, we saw a whopping 1,529 data breaches – compared to the 1,862 data breaches we saw last year.
Mistakes are easy to make, but in the world of cloud computing, they aren’t always easy to find and remediate without help. Cloud misconfigurations are frequently cited as the most common causes of breaches in the cloud. According to a 2021 survey from VMware and the Cloud Security Alliance, one in six surveyed companies experienced a public cloud security breach or incident due to a cloud misconfiguration in the previous 12 months.
Ransomware isn’t just an internal threat for your organization, it’s also a global crime, and data breach notifications are governed by various laws, policies, and agencies. Let’s go over some common cyber-compliance questions about ransomware, data breach notification and reporting, and the laws that cover cybercrime.
As Morgan Stanley Bank now knows, ignoring certified data destruction policies can be disastrous. The bank made news in 2020 when it was fined over $60 million for not using proper oversight when decommissioning two of its data centers. Regulators found that the organization had not addressed the risks associated with decommissioning hardware effectively.
Cyberthreats continue to evolve, causing trillions of dollars in losses. There will be a 76% increase in cybersecurity breaches by 2024, according to StealthLabs. A report by IBM states that it took an average of 287 days to identify and contain a data breach in 2021. According to Verizon’s 2020 Data Breach Investigations Report, 86% of cybersecurity breaches were financially motivated, and 10% were motivated by espionage.
Early in the morning of March 22nd a threat group known as LAPSUS$ posted screenshots on their Telegram account that allegedly show access to Okta internal systems such as Slack, Cloudflare, Jira, Salesforce and other “Okta cards.” Okta’s CEO Todd McKinnon apparently confirmed an event in January in a tweet:: “In late January 2022, Okta detected an attempt to compromise the account of a third party customer support engineer working for one of our subprocessors.
The average company can’t do business without their third parties. Vendors, suppliers, partners, distributors, and contractors — third parties make it so much simpler to build, distribute and sell a product or service.
