Increased Cyber Attacks Surge Amidst implemented Sanctions by the U.S. and NATO against Russia
In the wake of the ongoing military conflict in Ukraine, the cybersecurity landscape for U.S. companies has undergone a significant transformation, according to a recent report from Forrester. This shift has been prompted by the military invasion of Ukraine and the subsequent sanctions against Russia.
Major energy companies, such as Shell, Exxon, and BP, have pulled out of business in Russia, leaving billions of dollars on the table. Similarly, Mastercard and Visa have also withdrawn, and iconic brands like Coca-Cola and McDonald's have suspended new business, succumbing to mounting consumer pressure to cease operations in Russia.
The FBI and Cybersecurity and Infrastructure Security Agency (CISA) have issued a warning about potential threats to satellite communications networks in the U.S. and abroad. This warning comes weeks after a suspicious outage involving Germany's Enercon, which knocked more than 5,000 wind turbines out of service across Europe.
Cyberthreats against U.S. and allied companies may originate from state-sponsored actors, ransomware groups like Conti, ransomware as a service operators, or insiders sympathetic to Russian interests, Forrester states. In fact, Russian state-sponsored actors have been known to exploit the PrintNightmare vulnerability and misconfigured Multi-Factor Authentication (MFA) settings.
To counter these threats, Forrester advises corporate Chief Information Security Officers (CISOs) to regularly update their plans to avoid being caught off guard by events. They should also develop a communications plan for the board of directors and top executives, prepare a list of frequently asked questions to address security risk questions from the public, and check for insecure remote access tools, reporting any suspicious network activity.
Critical infrastructure providers are on high alert for potential retaliatory threats against U.S. or other western organizations. CISA remains concerned about the threat to U.S. and allied satellite communications networks, and prior research has uncovered data wiping malware such as HermeticWiper, IsaacWiper, and the recently identified CaddyWiper.
In light of these escalating threats, companies should be prepared for the risks associated with their stance. As Jeff Pollard, VP and principal analyst at Forrester, stated, "any stance a company takes marks them as a target for certain threat actors." Therefore, a company's cybersecurity team needs to be ready for the choices their company makes.
Executives should also prepare for increased cyberattacks against Ukraine-based military targets, government agencies, and critical infrastructure in countries supporting the Ukraine war effort. In such a situation, companies don't have a choice to stay on the sidelines, as any inaction could make them vulnerable to attacks.
In conclusion, the cybersecurity threats against U.S. and allied companies have increased significantly due to the ongoing conflict in Ukraine and the sanctions against Russia. Companies must be vigilant, update their cybersecurity plans regularly, and be prepared for the potential risks associated with their actions.
