Modern Hackers Are Organized Companies

  • July 11, 2024
  • 3 min read

The Cyber Attack Organization
Alright, this just goes to show that these cyber attackers are very, very organized. This CDK, which is the big attack that happened back in June to car dealerships, affected 15,000 plus car dealerships around the country. But the dealerships themselves didn’t get hacked; it was one of their vendors that supplied software to all these dealerships that got hacked.

Importance of Vendor Security
What’s the important takeaway from this? Well, even if you don’t get hacked, one of your vendors can really wreak havoc on the entire industry. The other takeaway is how organized the hackers are. You can see this was caused by Black Suit, and look, it’s got capital letters. It’s a branding, it’s a name, and look what it says about them. The Black Suit ransomware gang is believed to be a rebrand of the Royal Ransomware operation. Royal Ransomware, and then called Black Suit, is believed to be the successor of the notorious KTI cyber crime syndicate.

Sophistication of Cyber Crime Syndicates
These are big-time organizations. They have executive sales departments, IT departments. It’s not just some random guy in a basement somewhere. They have large groups of very highly sophisticated technical people. You stand no chance against them, no matter how good your IT person is, how good your cyber defense is. They will find a way to get through it.

Importance of Business Consortiums
That’s why it’s important to be part of a group, a consortium of businesses, so that if a hacker gets into one, you are notified of the new threat and you can adjust accordingly. Many times this occurs through insurance industry consortiums or cyber liability policies. They may have active monitoring. These hackers are not just, you know, like I said, teenagers sitting in their basement hacking computers. These are very highly sophisticated companies. They’re out there to make big money. They’re asking for tens of millions of dollars. Sometimes they ask for over a hundred million.

Financial Impact of Cyber Attacks
It doesn’t take many of those to have big paydays. Even if you have a payroll of 70 or 80 people in your company as a hacker, which they probably do, they probably have close to 100 people working for them, and you have to pay all your salaries and divide up the bonuses just like any company would. Ten, 15, 20, 50 million is going to be a big payday. You do that four or five times a year, and you have a very robust, thriving business.

Preparedness Against Cyber Attacks
So know who you’re up against, know who you’re having to defend against, and more importantly, have a response system in place financially, practically, and operationally because at some point it’s just a matter of time. It’s not an if; it’s a when every business will be affected. Look, all these car dealerships, they didn’t get hacked directly, but many of them are out of business for three, four, five days not being able to sell cars or work on cars because of this Black Suit ransomware attack.

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