Cyber Attacks launched on FedEx were not for money

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FedEx which witnessed a wave of cyber attacks on its delivery unit TNT early this week has made an official statement that no data was breached during the hack stint. However, ED Stroz, the former FBI head of Computer Crime says that the attack was not meant for money, but to tarnish the image of the company in public.

Stroz who now leads a cyber security firm named Stroz Friedberg said in an interview that deeper analysis made by his security team shows a different story of the cyber attack. The analysis shows that the attack was a part of a bigger ploy to hinder all organizations based in Ukraine.

Charles Carmakal, Vice President at Mandiant Cyber Security concurs with the opinion of Stroz. He added that companies themselves are partly to blame for the attacks as they simply ignored the security factor to the core in cyberspace till date.

Quoting FedEx cyber attack, for instance, Charles disclosed that cyber attacks on companies can not only be made for financial gains. But can also be made to degrade the image of the company among its competitors.

Last year, when Yahoo was cyber attacked for two times, its prospective buyer Verizon asked the web giant to give a 21% discount for buying its stake. And as demanded, Yahoo gave a $400 million discount to the telecom giant to buy out all the assets of the Marissa Mayer-led company.

Carmakal and Stroz said that companies should be looking at a more holistic approach to the risks that are inherent in the field and should ask their IT departments to come up with proactive measures to counter such risks.

Agree with what Mr. Stroz and Carmakal has proposed…?

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Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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