4 ways to enhance your ransomware defense

Ransomware attacks and data breaches are stark reminders that protecting private personal information (PPI) and financial data is growing more complex and more critical.

Incidents like the recent Patelco Credit Union ransomware attack highlight the need for strong safeguards for PPI, after their data was compromised and thousands of their members faced an increased risk of identity theft.   

To protect your organization from ransomware and other threats, take a proactive approach to enhancing your cybersecurity program.

Understanding the Patelco Credit Union breach

The Patelco Credit Union breach, detected on June 29, 2024, involved a ransomware attack that gained unauthorized access to the credit union’s databases. The exact method of entry hasn’t been disclosed.

The incident, which began on May 23, 2024, prompted immediate action from Patelco. They contained the threat by restricting unauthorized access, restoring data and initiating an investigation with external cybersecurity professionals. On August 14, 2024, Patelco confirmed that the accessed databases contained the personal information of members and employees. The compromised data potentially included names, Social Security numbers, driver’s license numbers, dates of birth and email addresses.

With 726,000 individuals affected, the breach has raised concerns about identity theft and fraud risks for those impacted. It has also prompted legal actions, with attempts to initiate a class action lawsuit against the credit union.

Enhancing your ransomware defense

The Patelco data breach highlights the need for your organization to have the tools and strategies in place to identify threats faster and provide an effective response.

Here are four ways you can enhance your organization’s cybersecurity program and better defend against ransomware:

1. Implement robust security measures

Enhancing your current security program with cybersecurity best practices not only helps strengthen your security but it can also help you meet cyber insurance requirements, improving your financial protection and business continuity if an attack does occur.

Some best practices you can consider implementing include:

• Network segmentation: By dividing your network into smaller subnets with their own security controls and firewalls, your organization can be better positioned to contain breaches and limit unauthorized access to all your data.
• Multifactor authentication (MFA): MFA requires users to provide additional identity verification when logging into systems or accessing resources, making it harder for cybercriminals to gain access to your data with stolen credentials.
• Email security: Malicious emails are the third highest cause of successful ransomware attacks, as of February 2024. Your organization can help improve email security with email authentication techniques such as sender policy framework and DomainKeys identified mail. These protocols help verify the legitimacy of incoming emails and protect against spoofing and forgery.
• Penetration testing: Penetration test services are crucial for maintaining data security. Organizations can uncover and proactively remediate any gaps or vulnerabilities in their security infrastructure by conducting these simulated, controlled attacks.

By combining these security measures, your organization can significantly enhance your defenses against ransomware attacks and minimize the risk of data breaches.

2. Leverage advanced threat detection tools

Advanced threat detection can help you detect and respond to ransomware threats faster and more effectively.

Consider implementing the following in your organization:  

• Managed detection and response (MDR): MDR provides proactive security services focusing on continuous monitoring and leveraging sophisticated threat intelligence. If your organization doesn’t have the resources to manage in-house security operations, these services can help you identify threats, minimize potential damage and safeguard your data 24/7.
• Endpoint security: As businesses expand, endpoints increase, creating more potential entry points for cybercriminals. Installing endpoint protection platforms or endpoint detection and response solutions allows system administrators to monitor and manage security for each remote device more effectively.
• AI-powered threat detection: Your organization can also implement cutting-edge solutions, such as AI and machine learning, to provide more robust protection against evolving cyberthreats. AI offers capabilities beyond traditional security measures, analyzing vast amounts of data to help identify patterns, make predictions and enhance your threat detection and response capabilities.

3. Train staff on cybersecurity best practices

Employee or staff education serves as a crucial line of defense against ransomware attacks. Your organization should be implementing comprehensive cybersecurity education programs that cover essential topics, such as recognizing phishing attempts and safe browsing practices, so that staff members are empowered to identify and mitigate potential threats.

You can also improve training with strategies such as:

• Keeping employees updated on emerging threats and reinforcing best practices with regular training sessions.
• Using simulated phishing exercises to test and improve employees’ ability to spot suspicious emails.
• Establishing clear guidelines for reporting suspicious activities and potential security incidents.

4. Data and ransomware recovery

Data recovery plans play an essential role in helping your organization restore its systems and data in the event of a successful attack.

Your organization should outline how you’ll regularly back up all critical data and systems and ensure that backups are stored securely offline or in the cloud. This includes using redundant systems and data centers to help ensure business continuity and minimize downtime. It’s also essential to test your backups periodically to verify their integrity and reliability.

Additionally, your plan should outline clear procedures for data restoration, such as identifying key personnel responsible for executing the recovery process and outlining step-by-step instructions for restoring systems and data.

By having a well-defined plan in place, your organization can significantly reduce the impact of ransomware attacks.

How Wipfli can help

Wipfli’s industry-experienced cybersecurity team is ready to help you fortify your defenses against the latest threats. Our team can help you assess your current capabilities and create a comprehensive, tailored solution that bridges the gap between your operations and technology.

Contact us today or see more of our cybersecurity resources by visiting our Cybersecurity Awareness Month page.