November 17, 2023 at 01:35PM
ALPHV/BlackCat ransomware gang has changed their tactics by filing a complaint with the SEC against their victim, MeridianLink, for not disclosing a breach within the required timeframe. This is an attempt to pressure MeridianLink to pay the ransom sooner. Businesses should consider having an incident response plan, deciding on paying ransom fees, complying with SEC rules, and improving cybersecurity measures to defend against such attacks. The new tactic used by ALPHV/BlackCat may become more common, and businesses need to be prepared.
Key takeaways from the meeting notes:
1. ALPHV/BlackCat ransomware gang has taken a different approach to extortion by filing a complaint with the SEC against their victim, MeridianLink, to influence them to pay the ransom sooner.
2. This tactic aims to put pressure on businesses to adhere to the SEC disclosure requirement and communicate quickly with their attackers in the event of a ransomware or data exfiltration attack.
3. While paying an extortion fee is not recommended, businesses must make their own decision on whether to pay or not, considering the risks involved.
4. Suggestions to minimize the risks associated with an attack include having a well-designed incident response plan, determining a designated negotiator, understanding new SEC rulings for public companies, auditing security vendors, and exploring new cybersecurity platforms.
5. The ALPHV/BlackCat tactic may become more common among adversaries, but businesses can defend themselves through proper preparation and use of effective cybersecurity measures.