Petya Ransomware: Another Reason to Protect your Technology

As the world is coming to terms with the damage caused by WannaCry, the ransomware that crippled many businesses across the globe, another major cyber security attack has hit the headlines, with over 64 countries affected so far!

Petya, as the new ransomware has been nicknamed, has continued to disrupt businesses and bring organisations to a standstill. The malware is reported to exploit the same vulnerability in computers running on the unpatched version of the Windows Operating System just like its predecessor WannaCry. Unlike WannaCry whose spread was quickly halted after a researcher discovered a flaw in its code, Petya has been reported to spread more quickly and is feared to be infecting more systems across the world.

These constant attacks have continued to highlight not only how ill-prepared most organisations have been to respond to cyber attacks but also how top of a priority cyber security has become.

In recognising this rising threat, and the ramifications such attacks could have on the Kenyan economy, the Central Bank of Kenya recently issued guidelines on how all banks operating in Kenya should treat and respond to cyber security. Even though the draft seems to apply to the banking sector, it is worth emphasising that in an increasingly networked world, there is no single business that can claim to be immune to cyber-attacks.

Cyber-attacks can significantly affect your business. Apart from the cost of repairing and recovering lost data, cyber-attacks have the potential to expose your business to the following additional costs:

A. Loss of Customer Relationship

Customers who feel that a business can’t safeguard the information they submit to them are no longer willing to transact with such entities as doing so leaves them exposed. In addition, customers who rely on products from such a business may end up getting inconvenienced thus affecting their view on the product

B. Increased Cost of Insurance

Due to the unprecedented and sometimes unpredictable nature of cyber-attacks, insurance companies are likely to charge phone businesses more on premiums to insure their businesses.

C. Operation Disruption

Depending on the level of preparation, and the degree of attack, a business may take longer to fully recover and thus the prolonged delay in production. This adds onto the production costs

Can you account for all access to your system? If you were attacked today, how long would it take you to fully recover? Do you have full visibility over your network environment? Computech Limited is here to help you find answers to these and more questions.

Call us now on +254 730 141 000 or send us an email through security@computechlimited.com and we shall help you assess your cyber security situation and offer you effective solutions to protect, detect and prevent damages caused by cyber attacks