Ransomware gangs targeting companies in M&A transition

521

United States Federal Bureau of Investigation, shortly known as FBI, has issued a warning that all those companies in the process of merger and acquisition should keep their networks secure from ransomware attacks.

Often threat actors are behind those firms that are involved in time sensitive monetary events such as merger or acquisition. As it gives criminals a chance to target, businesses that can spill valuable info that can fetch them smart to them in the web market.

FBI has issued a warning that those companies that are in M&A transition should keep a close watch on their IT Infrastructure. Otherwise, it can affect their company’s stock prices in the event of a digital disaster like a ransomware attack or a Ddos attack to disrupt a computer network forever.

Supporting the law enforcement agency’s prediction is the recent message posted by DarkSide Ransomware gang that announced that its members are constantly on a prowl of companies that are trading on NASDAQ and other stock exchanges are looking to buy or sell their valued assets.

DarkSide also claims that they often target such companies and demand a hefty amount as ransom. And if the parties refuse to pay, they leak information in such a way that it puts a dent on the entire M&A deal along with a blot on the company’s future.

On the other hand, Revil aka Sodinokibi has also expressed similar intention as it is planning to add an autonomous email framework that sends email to a stock exchange that a member of their trading platform has suffered a ransomware attack.

So, FBI is urging companies indulged in business transition to bolster their network security in such a way that they do not face any digital embarrassment during a business deal. For those unfortunate in business, the law enforcement agency is discouraging them not to pay any ransom and instead recover data from backups.

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