4 Minute Read
June 23, 2020
Both Encore Electric and Great Basin Industrial are real life examples of companies who have experienced security breaches and come out stronger on the other side.
Cann said Encore Electric experiences roughly 30 security breach attempts per week. One recent attack was attempted by a hacker posing as an internal employee. The hacker tried to change the employee’s paycheck deposit information in order to wire money into a different account. Luckily, the payroll department caught the attempt and the wire transfer was avoided.
Great Basin Industrial has also dealt with it’s fair share of cybersecurity breaches. Back in February, the company dealt with a phishing email gone wrong. After an employee clicked on a bad email link, the company’s entire email system was shut down for two full days.
More recently, Great Basin Industrial also faced a major ransomware attack. Shortly after the pandemic began, employees began having problems accessing the information from home. Lundskog went into the office one day to try to solve the problem. After consulting with the IT department, it was determined that the company was dealing with a ransomware attack. To justify their actions, the hackers claimed that, “they're providing a service for everybody else because they're making you stronger and making you go do things that you normally wouldn't do,” Lundskog recalled. Threatening to permanently delete the company’s data if they tried to retrieve it themselves, Great Basin Industrial was faced with a tough decision.
Deciding to attempt the data retrieval themselves rather than pay the ransom, the company gathered a group to fix the problem. By stringing the hackers along and making them believe they were going to receive the ransom money, Lundskog and his team were able to get the company back up and running in two days. To make sure that the situation was in the right hands, all information regarding the attack was handed off to the FBI. It was determined that the hackers gained access to the company through a weak employee password. In order to prevent this from happening in the future, Great Basin set password requirements for all employees and provided proper training on how to maintain construction data security through online accounts.
With cybersecurity threats being more prevalent today, there are several ways companies can protect themselves.
Watch the full Cybersecurity — Protecting Your Data & Assets in Uncertain Times webinar below to learn more about preventing cybersecurity attacks:
If you are interested in learning more about ViewpointOne and how we can help secure your data, please visit our website today.
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