The Italian sports carmaker has assured its customers that no payment details, bank account numbers or information regarding the cars they own or have ordered were stolen.
However, names, addresses, email address and telephone numbers were exposed, which can be used by hackers in phishing attacks or sold on the dark web and used to commit further crimes such as identity theft and fraud.
The data breach came just a year after a separate ransomware attack severely impacted Ferrari’s operations.
With the rise of remote working and an increased reliance on digital technology, it is clear businesses are becoming more vulnerable to cyber attacks.
As the Ferrari data breach highlights, cyber crime is a 21st century reality, and companies must remain vigilant and proactive in their security efforts.
Ransomware is where hackers steal data to try and sell it back to the victim.
They do this by introducing malware to an IT system, usually via an attachment or link in an email, which locks a business out until the ransom is paid.
Ferrari said it would “not be held to ransom as paying such demands funds criminal activity and enables threat actors to perpetuate their attacks”.
However, despite this, there will still be concern among its customer base in not knowing who has access to their data and what they are using it for.
Ferrari’s data breach will, unfortunately, not be the last and comes off the back of further high-profile hacks of UK dealer groups Arnold Clark and Pendragon.
The chances are, Ferrari will have had numerous resilience measures in place, highlighting that even large-scale companies with huge security budgets can be breached; this could have been an example of a highly sophisticated attacker or as simple as an internal error.
However, ultimately, it is a reminder that it will be significantly easier for cyber attackers to target businesses with no resilience measures or without the depth of pockets of a business like Ferrari.
With this in mind, it is vital businesses of all sizes for such an attack by having robust technology in place backed up with rigorous security protocols and processes.
It is also important everyone in your business takes security seriously at all levels – it is everybody’s responsibility, not just IT and security teams.
Knowing where to start can be tricky. Here are five basic measures that can set you on your way to becoming hard to hack.
The threat landscape changes every day – resilience decisions taken more than a year ago may have been surpassed by technology.
With this in mind, it is good practice to get regular, external audits carried out by cyber security experts.
A cyber and data security assessment is a thorough analysis of a business’ information assets and cyber controls, making it an essential first stage in identifying any vulnerabilities and risks.
The outcome will be a full picture of what is working well, what requires improvement and, most importantly, will provide a roadmap of what needs to be done to make a business resilient.
The majority of businesses will list a major cyber attack as one of their top three risks.
Does your company have a coherent programme to manage cyber security risks and make sure you are doing the right thing at the right time?
Your people are your greatest asset but also a great vulnerability. They need to be aware of the potential dangers and to report anything suspicious before opening it.
We offer expert-led data and cyber security training sessions that make it easier for your employees to understand the cyber threat landscape and how they can safeguard data.
We have also created a digital knowledge bank with a wealth of guides, tutorials and resources that explain how to minimise digital risks.
This can include a number of things such as penetration testing, firewalls, threat detection systems and vulnerability management systems.
One size does not fit all. In this day and age, a blend of technical controls are required. We can help you navigate.
This may seem really simple and is talked about all the time. However, strong individual passwords are your greatest defence against cyber attacks. Do not underestimate their importance.
Using the same password across multiple accounts or both personally and professionally is a major weak link in a company’s security system.
If one site is breached and an employee’s credentials are exposed, their risk is amplified exponentially if they use that same password elsewhere.
Ensure your employees are using strong, bespoke passwords that are different for each platform.
We also recommend implementing a password policy to ensure all passwords meet a set standard.
For further, more in-depth advice, fill in our enquiry form to book in a free 30-minute consultation with one of our experts.