A recent ransomware event has impacted CDK Global, a major software company serving auto dealerships. CDK Global provides software solutions to approximately 15,000 dealerships across the United States and generates about $2 billion in annual sales. Despite their substantial resources and security measures, they fell victim to a cyber attack, highlighting that no organization is immune to these threats.
Read (or watch) as Ethan explains the lessons every business can learn from the CDK Global cyber attack.
The timeline of the CDK Global cyber attack illustrates the rapid and severe nature of such events:
- June 19: CDK Global was hit by a cyber attack in the morning and then again in the afternoon.
- June 22: An announcement was made that restoration efforts were underway, expected to take "several days".
- June 28: Systems began coming back online gradually.
- July 4: Full restoration of services across all dealerships was anticipated.
This disruption, lasting over two weeks, significantly impacted CDK Global's operations and serves as a stark reminder of the potential consequences of ransomware attacks.
Key Lessons from the CDK Global Attack
The CDK Global incident highlights the importance of being vigilant and prepared for cyber threats. Here are some free recommendations to enchance your cybersecurity:
1. Strengthening Password Policies
A robust password policy is a fundamental defense against cyber attacks. Ensure simple to guess, easy passwords are not being used in your organization. Creating a password policy encouraging more complex passwords is recommended. Regularly updating passwords can also mitigate the risk of unauthorized access.
2. Enabling Multi-Factor Authentication (MFA)
Multi-Factor Authentication (MFA) adds an essential layer of security. Enabling MFA on email accounts, computer logins, and any other critical systems makes it significantly more difficult for attackers to gain access, even if they manage to obtain passwords.
3. Implementing Multiple Layers of Security
Relying on a single security solution is insufficient. Implementing multiple layers of security, such as firewalls, email security, and endpoint protection, can provide comprehensive defense against various types of cyber threats. Each layer addresses different vulnerabilities and adds to your overall security posture.
4. Requiring Regular Cybersecurity Training
Your employees are the biggest vulnerability to your cybersecurity strategy. Routine cybersecurity training for all employees is recommended. Training sessions should cover recognizing phishing attempts, safe internet practices, and the importance of reporting suspicious activities immediately.
Additional Paid Security Measures
While free measures are a great start, certain paid services can further enhance security:
Routine Third-Party Analysis: Periodic assessments by third-party vendors can identify vulnerabilities that might be overlooked by internal teams or regular IT providers. These assessments ensure all security measures are up to date and effective.
Cybersecurity Insurance: It is not "if" a cyberattack will occur, it is "when". Having cybersecurity insurance can provide financial protection and support in recovery efforts. Insurance can cover costs associated with data breaches, ransomware attacks, and other cyber incidents.
- Practice Runs and Simulations: Conducting regular simulations and practice runs prepares the management team and staff for potential cyber attacks. These exercises help in developing and refining response strategies, ensuring that everyone knows their role and the steps to take during an actual incident.
Free Training Opportunities at ComTech
To help you improve your cybersecurity awareness and best practices, ComTech offers two FREE training options:
CONNECT 2024: ComTech's live event bridging technology and business. This year it is on September 20th 2024. This one-day event provides valuable insights and practical advice on enhancing security measures and programs that will enhance productivity. Register now, seats are going fast - https://comtechnc.com/connect
CyberHero Academy: ComTech will conduct onsite or remote training sessions to enhance your employees and become CyberHeroes! These sessions cover essential topics such as password security, setting up MFA, and other best practices to ensure robust security protocols. Register your company for training here: https://comtechnc.com/cyberhero-academy
The ransomware attack on CDK Global serves as a crucial reminder of the ever-present threat of cyberattacks and the importance of robust security measures. By learning from such incidents and implementing comprehensive security practices, organizations can better protect themselves against similar threats.
For further information or assistance, feel free to reach out - https://comtechnc.com/contact-us
