A notable banking institution with approximately 3000 employees recently experienced a significant cyber-attack. This incident exploited vulnerabilities in their PCI environment, leading to the encryption of crucial data and a hefty ransom demand of $3,000,000.
Ransom demanded
Reduction in ransom demand
Total recovery time
 and Report
The Challenge
The attacked bank found itself in a precarious situation, made even more challenging due to the vital role it plays in the financial ecosystem. After careful consideration, the bank chose to negotiate the ransom, using Proven Data intermediation.Â
A comprehensive Vulnerability Assessment Study was necessary to mitigate the effects and prevent future occurrences. This process was designed to identify, classify, and prioritize vulnerabilities in the banking system.
Findings and Results
After the Vulnerability Assessment, we found significant security gaps that had been previously overlooked. Several risks were identified and prioritized, leading to the development of targeted mitigation strategies. The implemented solutions significantly improved the overall security posture of the banking institution.
Vulnerability Assessment Process
The first step involved automated scanning of the systems to identify potential vulnerabilities and analyzed them to understand their potential impact on the system.
Each vulnerability was categorized based on severity, ease of exploitation, and potential impact.
A thorough risk assessment was carried out to understand the potential harm each vulnerability could cause.
The vulnerabilities were prioritized based on their classification and risk assessment.
Mitigation strategies were developed for each vulnerability, with priority given to high-risk categories.
The mitigation strategies were then put into action, beginning with the highest priority risks.
The Results
- Complete Data Decryption
- Data Recovery
- Data De-Corruption
- Ransom Cost Reduction
- Disaster Mitigation
- Ransomware Prevention Assistance
