News, Trends, and Insights for IT & Managed Services Providers
News, Trends, and Insights for IT & Managed Services Providers
Business of Tech | North Korea is coming for your small business profits

Microsoft has warned that North Korea has explicitly been developing ransomware and compromising small businesses in several countries since September 2021.  It’s about raising money – so when your customers ask what they have that hackers want, it’s the ransom.     “A review of the victims showed they were primarily small-to-midsized businesses, including manufacturing organizations, banks, schools, and event and meeting planning companies,” researchers said. “The victimology indicates that these victims are most likely targets of opportunity.”

And it’s not just North Korea.    Experts are warning that while Russia hasn’t upped its intensity since the invasion of Ukraine, it’s still a risk.. .and more so if the country gets desperate.    Here it’s aimed at the West’s critical infrastructure and supply chains. A surge of attacks from proxy groups is also probable, according to some Russia watchers.

And from Stacey on IoT, Almost all IoT security efforts fail: Or at least 93% of them have, according to a survey of 800 IT professionals conducted by security company Barracuda Networks. The survey focused on OT and IIoT failures.  The survey also found that only 18% restrict network access or require multi-factor authentication.

Tuesday was the White House National Cyber Workforce and Education Summit, focusing on ways to fill open cybersecurity positions in the U.S.

And one more link of diplomacy and cyber – CISA announced Monday it’s a first-ever international outpost.  It’s in London, opening later this month. 

Why do we care?

North Korea coming for your small business’s profit to fund their weapons programs is a very understandable answer to “what does my small business have that hackers want.”      The answers don’t have to be that hard – put keys on your access, like MFA, and then plan for the when, not the if, of a breach.

The air cover of awareness by the US government is valuable, and we can be hopeful for eventual outcomes here.  I just interviewed a corporate espionage hacker – an interview to be released soon – and while potentially later than we might have hoped, this is cause for hope.  

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