The transfer of data between your business’s system and its destination can be an ideal time for cyber attackers to breach your data. It is critical to effectively use secure and modern systems for data to avoid attacks such as this.

In the last few days, it has been exposed that cybercriminals have successfully exploited a vulnerability in the MOVEit Transfer software. As a result, a wide array of personal information relating to UK citizens has been accessed.

Last week, a zero-day vulnerability was exposed in the MOVEit file transfer system, which is produced by Progress software.  A zero-day vulnerability is a security flaw that is unknown to the software vendor/ developer and actively exploited by an attacker before a patch is available.

The impact on Major UK Businesses: British Airways, Boots, and BBC Affected
Several large UK businesses have confirmed that they have been affected by a cyber security breach such as British Airways, Boots and the BBC. Each company claims that different data has been leaked, including employee’s bank details, national insurance numbers, company ID numbers, names, and home addresses.

These companies were affected due to their payroll provider, Zellis, using the software. The scale of this attack shows the importance of understanding supply chain risk.

Supply chain risk is the potential vulnerabilities and threats arising from the complex networks of suppliers, vendors, contractors and partners involved with business operations. In a supply chain, multiple entities collaborate and exchange products or services, often containing business data. This introduces additional places for attackers to target and attempt to exploit.
Safeguard Your Business: Stay Cyber Wise with Our Expert Guidance

It is important to understand the supply chain your business has and the risks that this brings. Stay Cyber Wise to your supply chain by getting in touch with our experts today.