Investment Industry Ransomware Attack – Expert Comments

News of another cyberattack on the financial industry, this one is ransomware against a third party vendor of SEI Investments. Reported by the Wall Street Journal, the ransomware attack against a vendor of SEI Investments Co. The ransomware is detected in May which exposed personal information for roughly 100 investors. The cybersecurity expert commented below on the danger of ransomware and what is the best strategy to protect against such attacks.

Patrick Hamilton, Security Evangelist ,  Lucy Security
July 29, 2020
Networks never assume trust but humans do.
Ransomware attacks are rarely predicated upon a vulnerability within a network. Nine times out of 10 these attacks are predicated upon the vulnerability of humans. Networks never assume trust but humans do. Humans trust names that they’ve seen before, shared vendors, common connections, and on and on. Humans are the real endpoints, access points, and lowered defenses. Train humans, reduce risk. ....
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