Russian Destructive Malware: Don’t Hit the Panic Button

Everyone is on high alert right now because of Russian ransomware attacks as a part of the conflict in Ukraine.

We’ve been getting asked about this a lot at Bedel Security here lately.

The alerts are everywhere. I can’t open my inbox without seeing a new article on the subject from various threat intelligence feeds, vendors, and membership associations.

It’s getting to be too much. Our society loves to sensationalize this kind of stuff, but we need to be careful. I fear that we will begin to desensitize everyone – then the alerts won’t work when the threat is direct and eminent. Honestly, I went back and forth on whether to even write about it this week.

But a friend of mine urged me that a measured approach to this topic would be refreshing to the community banking industry.

So, when the world is beating on the “Fear, Uncertainty, & Doubt” drum - maybe because they just need a social media post today, maybe because they are trying to sell you something, or maybe they are truly trying to help - there 5 things I want you to consider:

1. At the time of writing this, the FBI still has not identified any direct threats to Unites States financial institutions but warns that the attacks may “spillover” in a collateral damage kind of way. “Spillover” is a totally different animal than a directed attack.
   
   
2. That means we need to be aware, but we need to stop hitting the alarm every 15 minutes.
   
   
3. Keep an eye on CISA and FBI websites for official updates once a day, but don’t obsess and don’t panic.
   
   
4. If you look at CISA’s recommendations, there are no silver bullets, but instead, they recommend building a comprehensive security program with layered controls. This is like building your house on a solid foundation – it makes it easier to weather the “cyber storms” when they arise – and less scary.
   
   
5. If there is an IMMEDIATE TAKEAWAY, let it be this: rather than wait for a potential threat to build your information security program, you should do it proactively. If you haven’t done so already, let this be a call to action now.
   
   

The best time to plant a tree: 20 years ago. The 2nd best time to plant a tree: today.

Resources:

It sounds like a shameless plug, but it’s a great way to get a gut feel on if you have the key pieces in place for a solid Information Security Program, Very affordable, but tons of value: https://www.bedelsecurity.com/services/the-ciso-assesment

Stephanie Goetz put out a great write-up last week on practical things you can implement to address these threats. All part of that solid foundation I referenced earlier: https://www.bedelsecurity.com/blog/russian-cyberthreats