Car dealerships have been brought to a standstill across the United States after a software provider was hit by a ransomware attack.
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Newly-released research indicates that ransomware attacks reached a record high in May, with the surge primarily fueled by a massive increase in the number of attacks perpetrated by the LockBit ransomware group and its affiliates.
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With £4.2 billion set aside for the UK's healthcare sector in the 2024 Spring Budget, there are new opportunities for digital transformation initiatives to optimise operational efficiency and enhance patient care across the country, provided they are correctly acted upon.
Ultimately, the goal is to save £3.5 billion over the next five years by making things more efficient, in line with the NHS Long-term Workforce Plan. Simple, right?
Well, yes and no…
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Now more than ever, organisations across the public and private sectors depend on seamless, secure, and high-quality communications. Even with an increasing range of channels having established themselves in recent years - including voice, email, video, and SMS - voice services remain a key part of how we communicate and collaborate.
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What's happened?
Recorded Future has reports that the British Government is proposing sweeping change in its approach to ransomware attacks.
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Maximising performance, scalability, and compliance for a leading innovator in online banking
About Tandem Money
Tandem is 'The Good Green Bank', a fully regulated digital app‐based bank founded on the idea of putting customers' needs first whilst helping them save more than just their money by pushing for a sustainable future. The acquisition of green lender Allium in 2020, an established green homes lender, accelerated Tandem's mission into the green space. Tandem offers savings, mortgages, and loans to help customers green their properties, and eventually their lives.
Challenges
The key driver behind Tandem's ongoing digital transformation was earning a full banking license in 2018 - something that had been a core focus of their infrastructure's evolution. This meant their infrastructure would need to fulfil all legal and compliance obligations around the handling of financial data, and also demonstrate the highest standard of operational resilience.
At the time, Tandem's IT and telephony infrastructure was hosted at various separate data centres, while their banking application was hosted on AWS services, and a separate site set aside for workplace recovery. Although multiple sites were involved here, the whole network depended on the London office, creating a single point of failure.
After a comprehensive evaluation of various suppliers, Tandem engaged with Exponential‐e to ensure these critical elements could be securely interconnected in order to maximise performance and scalability and ensure all requirements for full bank status were achieved. Exponential‐e's deep experience in the financial sector was critical here, providing Tandem with complete confidence that the partnership would provide a positive contribution to their journey.
Solution
The networking solution delivered by Exponential‐e interconnected all Tandem sites via a high-performance WAN - a fully managed low‐latency solution that ensured consistent performance across all sites. This was implemented by a dedicated Exponential‐e account team, who project managed every stage of the deployment to ensure there would be no service disruption and that Tandem's long-term goals remained the primary focus throughout the deployment and beyond.
Critically, this fulfilled all compliance requirements regarding the handling and storage of financial data, while ensuring Tandem's teams would have the right tools at their fingertips at all times. To ensure a disruption free migration process, secure connections were created between Exponential-e's self‐owned network and Tandem's AWS services, allowing for a successful consolidation of the different elements of their infrastructure, and providing IT teams with a higher level of control and visibility.
As the partnership between Tandem and Exponential‐e evolved, a combination of a Virtual Private Network (VPN) and Office 365 was established as the ideal combination of solutions to further optimise Tandem's overall efficiency and enable effortless collaboration between their various teams, regardless of where they were located, with security policies applied automatically and role‐based segregation opening up a wide range of opportunities for remote working.
Throughout 2020, when the COVID‐19 pandemic forced organisations worldwide to rapidly transition to a remote workforce, the inherent flexibility and scalability of Tandem's infrastructure and a robust business continuity plan showed its true worth, as the entire workforce were able to begin working remotely with minimal disruption to day‐to‐day operations, and no compromise in terms of security and compliance. This option had already been utilised on an ad‐hoc basis by Tandem's engineers, but a scenario where it would need to be utilised on a company‐wide basis had been considered and factored into the business continuity plan, with tests taking place to ensure such measures would be viable, should they ever be needed.
In this way, Tandem has demonstrated how the right infrastructure, with the support of the right technology partner, provides organisations in even the most challenging sectors with the agility to pivot in response to unexpected, large‐scale shifts in the digital landscape. Tandem's long‐term digital transformation continues, with plans in place to bring its core banking suite in house and into the Cloud, for a further layer of control and flexibility.
Solution benefits
- High‐performance VPN connectivity across multiple sites, with secure connections to the core banking suite provider.
- Full compliance with all applicable regulations regarding the handling of financial and sensitive data.
- A stress‐free transition to remote working, with zero compromise in the security of users' financial and sensitive data.
- A strong foundation for ongoing Cloud transformation and consolidation.
Reduce complexity, increase speed and reliability
Exponential-e is a trusted technology partner for organisations across the Finance sector, offering innovative solutions that drive security, compliance and optimal performance at all levels.
Find out more in our Finance Brochure.
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Security agencies in the United States have issued a new warning about the Black Basta ransomware group, in the wake of a high-profile attack against the healthcare giant Ascension.
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Do you know Dmitry Yuryevich Khoroshev?
If you do, there's a chance that you might well on the way to receiving a reward of up to $10 million.
Law enforcement agencies across the US, UK, and Australia have named Dmitry Yuryevich Khoroshev as the mastermind behind the notorious LockBit ransomware group, estimated to have extorted $500 million from companies worldwide.
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To Test or Not to Test? - When it comes to IT disaster recovery and remediation processes, regular testing is not a 'nice to have' - it's absolutely essential!
This isn't hyperbole on my part. You just have to look at the news on any given day. We've all heard the horror stories of organisations in both the public and private sectors experiencing prolonged downtime during disasters due to inadequate preparation, lack of testing, and the unsuitability of their legacy remediation processes and systems.
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The international hotel chain Omni Hotels & Resorts has confirmed that a cyberattack last month saw it shut down its systems, with hackers stealing personal information about its customers.
In the aftermath of the attack, hotel guests reported that they had been forced to check in on paper, that room keys didn't work, and all phone systems and Wi-Fi were offline.
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Dev Ops Consultant at Exponential-e, Alistair Doran, write for 'Tech Native', discussing Software engineering and the cultural changes needed to move to a digital first economy. Read the article Read the article
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Paulo Henriques, Head of Cyber Security Operations at Exponential-e, writes for 'Global Banking and Finance', discussing the cyber security steps businesses should take to mitigate the risk of botnets. Read the article Read the article
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Chief Innovation office at Exponential-e, Jonathan Bridges, speaks to 'Intelligent Ciso' about the importance of having a robust cyber security plan in place and the steps businesses should take to achieve this, such as military-grade cyber security solutions to mitigate the threat of ransomware attacks. Read the article
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Tom Richardson, Cloud Sales Specialist for Media at Exponential-e, speaks to Technology Dispatch about the importance of protecting sensitive data by ensuring the correct protocols are in place and training for staff at all levels is prioritised to mitigate these cyber risks. Read more here
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Head of Public Sector at Exponential-e, David Lozdan, speaks to City AM about the investments in data-driven digital healthcare and how this is effectively improving patient outcomes through the National Pathology Imaging Co-operative (NPIC).
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Amy Springford, Director of Client Relations at Exponential-e, speaks to SheCanCode, discussing the importance of inclusivity in the workplace and how this would support retaining female workers, as well as implementing flexible working policies for women to juggle their work-life balance.
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Afshin Attari, Director of Public Sector and Unified Platforms, writes for 'Government Transformation Magazine' discussing the four core technologies which could transform the Public Sector.
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Our Chief Innovation Officer, Jonathan Bridges, writes for 'Security Boulevard' about the importance of understanding and preparing for ransomware attacks as an IT professional, and the steps you should take to mitigate risks for your business.
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On the 18th March 2024, the Information Commissioner's Office issued its updated guidance around the issuing of fines when organisations have been found liable for the integrity of their customers' or end users' data being compromised. It is already well-established now that failure to ensure critical data remains secure will result in costly fines, as we have seen repeatedly in multiple high-profile cases over the years.
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In October 2023, the British Library suffered "one of the worst cyber incidents in British history," as described by Ciaran Martin, ex-CEO of the National Cyber Security Centre (NCSC).
The notorious Rhysida ransomware gang broke into one of the world's greatest research libraries, encrypting or destroying much of its data, and exfiltrating 600 GB of files, including personal information of British Library staff and users.
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