A Security Incident Demanding INR 500 Cr - A Case Study of Indian MNC <Cyber Incident - May 2017>

On May 5, the company received an anonymous email threatening a massive attack with the poison Ricin on all its offices in Bangalore if it didn't pay Rs 500 crore ($85 million)
in ransom in bitcoins, according to news media reports.

The firm has refrained from sharing details of the incident with the media. In a statement, it confirms that it has filed a complaint with local law enforcement authorities. "We have augmented security measures at all our office locations. There is no impact on the company's operations. We have no further comments as the investigation is ongoing,". This is what press release by that Indian IT MNC. Local Police has registered a Cyber Crime Case and the Investigation is continues.....!

An Insider Threat?
Some security specialists question whether the threat might involve an insider.
For example, a cyber dispute risk management consultant, believes the email could have been sent by a frustrated employee. "If that's the case, this is only an irritation and doesn't need much attention beyond the formality of filing a police complaint, which has already been done,". This is under the presumption that the email is only a threat and nothing in reality will happen."

Earlier this year, the organization laid off 600 employees during the time of annual appraisals
Tackling the Situation Security experts strongly advise against paying ransoms to extortionists. There were several cases where even after paying ransom, the firms have been getting threats through
email," says Michael Joseph, Fortinet's regional director, system engineering, India and SAARC.

When organizations face ransomware attacks or other extortion efforts, experts recommend that they immediately contact law enforcement Pavan Duggal, attorney at the Supreme Court of India and cyber law expert, says organizations need to establish a clear program for handling such threats. "Additionally, they need to sensitize their employees on these new kind of cybersecurity attacks,".




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Comment by AHMED SHAKIL on May 18, 2017 at 3:30pm

In the above Case Study the IT MNC's I discussed is WIPRO.


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