Weekly Round-Up: How Moneris Dodged a $6M Bullet

Weekly Round-Up: How Moneris Dodged a $6M Bullet

This week, the cybersecurity landscape witnessed a significant event that serves as a reminder of the ever-present threat of data breaches. The attempted ransomware attack on Moneris, a leading Canadian banking technology giant, highlights the critical need for strengthened cybersecurity measures in businesses of all sizes. 

Moneris's proactive security measures successfully dodged the Medusa ransomware gang's attempt, avoiding a potential $6 million ransom. This incident underscores the importance of vigilant cybersecurity practices and the real threats businesses face daily.

Three Simple Ways to Secure Your Small Business

  1. Regular Software Updates and Patch Management: Ensure that all your software is up-to-date. Regular updates often include patches for security vulnerabilities that have been discovered since the last version, playing a crucial role in ransomware attack prevention.

  2. Employee Training and Awareness: Educate your employees about the importance of cybersecurity for small businesses. Simple actions like recognizing phishing emails, using strong passwords, and understanding the basics of digital hygiene can significantly reduce risks.

  3. Implement Basic Cybersecurity Measures: Start with fundamental security measures like firewalls, antivirus software, and secure Wi-Fi networks. These are essential barriers against common cyber threats and a cornerstone of any cybersecurity strategy.

Take the First Step Towards Securing Your Business

Understanding your current cybersecurity posture is crucial. We offer a Free External Scan that can help identify vulnerabilities in your system. This scan is a great starting point to understand where your business stands in terms of cybersecurity.

Let's Discuss Your Cybersecurity Strategy

Every business is unique, and so are its cybersecurity needs. We invite you to book a Discovery Call with our experts. This call is an opportunity to discuss your specific concerns, understand potential risks, and explore tailored cybersecurity solutions for your business.

Briefly, the recent security issue at Moneris shows that all companies, especially smaller ones, need to focus on protecting themselves online. It's important to start utilizing resources like those offered by Triad Cyber Solutions to strengthen your defense against digital threats.