Last week, the Development Bank of Seychelles (DBS) fell victim to Calix ransomware, which is known to encrypt files and lock employees out of important information. Fortunately, client information wasn’t compromised during the attack but, it took several days for the bank to identify the type of attack and the information that was at risk. The DBS is a branch of The Central Bank of Seychelles (CBS), which is led by both the government and shareholders. The CBS as a whole was not affected and have supported the DBS throughout the investigation.
Since Monday, 9/14, the DBS has been in the process of recovering and they expect to be back full time by Thursday. As a part of their recovery plan, they are establishing an offline backup which they will have to manually update. In addition, the DBS is upgrading their email screening server so that employees won’t fall victim to malicious emails. The DBS hopes that with additional data storage and increased IT supervision, their data will be secure. To learn more about the effects of this attack read here.
Changing the Dialog on Cybersecurity: How Boards Can Get It Right
Boards that struggle with their responsibility to oversee cybersecurity can cause security issues for their organization. Despite stating that cybersecurity is a key priority, many boards have yet...