In a real estate company
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School
University of Maryland, University College *
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Course
660
Subject
Information Systems
Date
Dec 6, 2023
Type
docx
Pages
2
Uploaded by nalalover1992
In a real estate company, I previously worked for during the pandemic, the
entire organization was shut down due to a phishing attack that led to a
ransomware attack. This prevalent malware frequently attacks businesses and is
very effective at extracting money from companies looking for a quick solution.
It does this by infecting the entire system where files and the whole network are
locked and inaccessible to the company and its employees and remain that way
until a ransom is paid to unlock it. In this instance an employee clicked on a link
they thought was legitimate and then the malicious software entered the system
and was installed without the employee’s knowledge. After entering this
employee’s individual computer, it infected the entire network and began
encrypting files where the ransomware prevented the entire company from
accessing the system, data, and files and a ransom was demanded soon after by
the perpetrators to unlock it. The company was shut down and could not operate
for an entire week while the organization worked with IT specialists and law
enforcement to correct the issue and locate the perpetrators of the crime.
They did not end up paying the ransom as there was no guarantee the
perpetrators would retract follow through with unlocking everything and the
company did not want to encourage future attacks by giving in to the demands.
Eventually the organization was able to regain access over its systems, however
the perpetrators were never found. Other repercussions included the loss of real
estate agents that were not happy with the lack of cybersecurity that cost them
business, lawsuits from employees and customers suing the company claiming
their personal information was stolen during the attack, and a loss of confidence
in the market as the public had its doubts about whether their personal
information could be protected when doing business with the company. The
organization also enacted several measures to prevent an attack like this from
occurring again that included a stronger firewall, sporadic emails to test the
readiness of employees, and regular compliance training for employees to keep
them up to date on the latest cyberattacks. If an employee fails to report a fake
cyberattack email or clicks the links in them over three times in a six-month
period, they could face termination. It was an interesting time to say the least as
Covid was at its peak in 2020 when this occurred and underscored the
importance of constantly remaining vigilant when it comes to cybersecurity in
the workplace.
References
Cisco. (n.d.).
What is Malware?
Retrieved November 29, 2021, from Cisco:
https://www.cisco.com/c/en/us/products/security/advanced-malware-
protection/what-is-malware.html#~what-is-malware
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