A few years ago, the company I work for was taken over. This was by a larger group of companies. One of the smallest companies they own was a company dealing with financial payments so was much more important than their size suggests.
My understanding that someone working for that company was “social engineered” and their password was accessed. This cyber-crime group that acquired the password then used it to install ransomware on the entire system. Sensitive information was believed to be stolen, and the systems were unable to be used; preventing millions of transactions being processed.
It was a massive hit to the reputation of the parent company, and cost millions paying out loans to those hindered, and compensation over the incident.
Even though it had nothing to do with our company, it caused instant fear that we could be next, therefore any security policy that could be changed was.
The stolen account didn’t have 2 factor authentication, but even if it did, the code could have also been socially engineered. I think it’s a bit naïve to assume that was the only reason it happened.
Even though we used 2FA on our accounts, products like Microsoft Teams asks you to log in then keeps you permanently logged in. So then they changed the policy so it asked you every day. As we found out, Microsoft Office doesn’t handle this well, sometimes struggling to log in to Teams and Outlook to start our days. I’m not sure what that was even trying to achieve, but it was a massive annoyance to everyone. It then got reverted after a week or so.
Other changes followed as part of what we called “The Gatekeeper Programme”.
Gatekeeper Programme Scope
- Risk assess all practices, tools and techniques.
- Prioritise security based projects
- Create new practices, policies, process and control measures.
- Improve security monitoring
- Remove use of out-of-support products
- Training to prevent against social engineering
What it really meant is we ended up switching to products used by the parent company, and we lost access to do certain activities. So our VPN software was changed, we had different Remote Desktop software and only certain people were allowed to use it.
In some ways this does make sense as it reduces the number of products that could have a vulnerability. Restricting privileges to only necessary staff members also reduces the number of people malicious groups can target.
Many of the changes seemed an over-reaction and the urgency we had to remove products was a massive hindrance on certain departments, mainly Group IT.