Accenture has become the latest major company hit with a ransomware attack this week, with the global consultant firm being victimized by the LockBit ransomware gang. There is an irony given Accenture’s pioneering role in matters relating to business digital transformation.
LockBit is threatening to share encrypted files on the dark web unless Accenture meets its ransom demands in good time. LockBit is a cybercriminal gang that operates using a ransomware-as-a-service (RaaS) model, similar to other well-known perpetrators of cybercriminal activity – DarkSide and REvil..
In a statement (reported by CRN), Accenture said that it had “immediately contained the matter and isolated the affected servers” and that “there was no impact on Accenture’s operations, or on our clients’ systems.” The statement did not reference when Accenture had originally learned of the ransomware attack.
Longenecker begins by setting the scene behind the latest cyber-incident, noting: “News that IT consulting giant Accenture has been hit by a massive ransomware attack is the latest addition to the growing list of ransomware incidents, following reports earlier of the attack on Gigabyte.”
Businesses need to be ware, says Longenecker and such attacks emphasize the importance of putting in place preventative measures.
Longenecker recommends: “These attacks highlight the importance of 24×7 threat coverage. Yet in-house security teams struggle to keep up with threat alerts and afford, find and retain enough cybersecurity experts.”
There are other weakness, which Longenecker highlights: “Compounding this, the traditional approach of employing multiple point security products from a variety of vendors has increased complexity, making it hard to quickly identify and contain attacks.”
As to the solution, Longenecker says “It is critical for companies to use managed detection and response (MDR) services that pair cybersecurity experts with artificial intelligence and a broad set of data to detect and contain threats early in the cyber kill chain, protecting sensitive information and ensuring business continuity.”