A growing and ever-evolving threat, cyber extortion is most often reported as a disruptive cyber attack in which cybercriminals demand a ransom payment for restoration of access to IT systems infected with malware. Owing to the typically disruptive societal impact of such attacks, as occurred with the attack on Ireland’s health service systems in 2021 for example, such attacks often play out quite publicly and as a result the public and businesses at large are generally aware of the possibility and potential pervasiveness of this cyber risk today.
While attackers often seek to leverage the societal impact and attention brought by an incident in order to maximise the urgency and pressure on the targeted organisation to pay to resolve the situation, cyber extortion can take other forms however involving coercive demands by attackers that need not hinge upon any crippling cyberattack carried out on business critical systems, but instead on the attacker’s leveraging of stolen sensitive data. Importantly, this cyber risk is faced by individuals, not just organisational-level IT systems, as cybercriminals steal personal information belonging to a targeted individual and threaten exposure, for example, whether publicly or privately.
In recent times, these types of attack have been observed to combine as cyber extortion has evolved, sometimes occurring as a ‘Double Extortion’ attack involving data theft and threats of exposure of same, and even as a ‘Triple Threat’ in which data theft and threats of exposure are accompanied by a disruptive Denial of Service (DoS) attack on business critical systems.
Managing this growing cyber risk today effectively first requires recognition of the expanding nature of the threat, then the development of a comprehensive strategy that encompasses appropriate prevention, response, and recovery measures. Today, proactive management and mitigation of the full range of cyber extortion related risks posed at various levels, and preparedness to respond swiftly and effectively when they marerialise, cannot be achieved with an IT-focused approach to cybersecurity alone.
We provide 360° protection of your assets & people against strategic cyber risk.
+41 58 458 7788 E-MailAt TI IT we specialise in the management and mitigation of cyber risk for our clients with bespoke playbook development, discreet remediation measures, and ongoing posture optimisation for resilience beyond the limitations of conventional IT security approaches. Our combination of in-house capabilities and trusted partnerships with world-leading cybersecurity vendors, enables us to design and deliver tailored cybersecurity services and solutions all the way up to fully managed 24/7 Security Operations Centre (SOC) as-a-service for corporate clients, VIPs, and large enterprises.
We offer a ‘one-stop shop’ for clients in any at-risk scenario, ranging from proactive risk evaluation and recommendations, to comprehensive Cyber Incident Response services through our ‘4A’ approach comprising:
Teichmann International (IT Solutions) AG offers comprehensive cyber extortion risk management and response services from: strategic risk auditing and assessment, to legal advisory including ransom negotiations support, to the design and delivery of best-of-breed solutions including 24/7 SOC services. The suite of services, which are also available individually, as bundles, or as a comprehensive package comprises:
At TI IT, we specialise in evaluating exposure to cyber extortion risks, the most significant threat faced by individuals and organisations today. We go beyond the IT-exclusive scope of conventional approaches to cyber risk in our Information System auditing by encompassing a broader spectrum of real-world risks, and covering a wider range of attack surfaces exposed to exploitation in today’s evolving threat landscape.
Our auditing services and advisory draws from our unparalleled expertise in cyber-criminology, our knowledge of the cyber-physical threat environment which transcends conventional approaches to cybersecurity, and our trusted partnerships with leading cybersecurity vendors whose capabilities we have selected to enable us to design and deliver solution sets tailored to clients’ specific risk profile across a wide range of scenarios over time. Click here to find out more about our Security Auditing and Compliance Auditing services.
Dark Web Monitoring is a specialised protective service affording early detection of security breaches before compromised information may be exploited to destructive effect by attackers, earlier, in other words, than conventional cybersecurity measures may detect any threat. For individuals and corporations facing rising cyber risk and especially Cyber Extortion and Cyber Espionage risks today, Dark Web Monitoring whether acquired as an in-house capability or as a discrete managed service, offers:
We also offer dark web investigation as a component of our Incident Response services. This involves threat hunting by expert analysts to help confirm whether a breach has occurred but crucially moreover to inform assessment of the exposure risks posed. Responders use specialised tools to search for specific identifying information as specified by the client. Such information can include personal or corporate email addresses, corporate domains, project names, credit card numbers and many other types. Expert guidance is also offered helping organizations to respond more swiftly and holistically to understand cyber risk and mitigate potential harms. Click here to find out more about our Dark Web Investigation services.
At a time of rising cyber extortion and cyber espionage threats worldwide, digital forensics investigation also offers an increasingly important proactive protective measure today for at-risk individuals, such as Ultra High Net Worth (UNHW) individuals, VIPs, and others at risk of targeting by cybercriminals or state-sponsored threat actors. Through the services of a trusted provider, digital forensics can provide a key component of strategic cyber risk management and mitigation, such as malware discovery and removal from infected devices of targeted individuals.
Digital forensics analysis and investigation is also a core element of our Incident Response services. Our experts are available for deployment at immediate notice to provide in-person, on-location support to you or your organization in uncovering and analyzing digital evidence of compromise including malware infection, and remediating that threat on site as required. Whether you are dealing with a cyber incident, conducting an internal investigation, or preparing for legal proceedings, this service can be tailored to meet your needs. Click here to find out more about our Digital Forensics Investigation services.
Managed Extended Detection and Response (M-XDR) services bring the benefit of continuous monitoring, proactive threat hunting, and rapid response to security incidents, all managed by a dedicated team of cybersecurity experts, ensuring that the customer gains maximal value out of their investment and real assurance moreover.
Choosing the right M-XDR service and XDR solution is vital however, and this can be challenging for companies today finding themselves faced with very similar claims made by very different solution vendors and service providers, and there is no ‘one-size fits all’ when it comes to XDR or M-XDR today.
We deliver the right XDR solution and Managed-XDR service for your business’s needs and priorities. With our world-leading XDR vendor partners, Teichmann International (IT Solutions) AG offers best of breed M-XDR ranging from full 24/7 SOC service delivery, to tailorable co-managed XDR according to our clients’ requirements. Click here to find out more about our M-XDR.
Effective incident response capability is essential for managing all cyber risk but especially cyber extortion risks. Beyond having a plan in place setting out the steps to be taken in the event of an attack, organizations must ensure they have sufficient measures in place to identify and quickly contain an attack, isolating affected systems while also rapidly assessing the scope and impact of the attack, and enacting the appropriate crisis communications strategy, all while understanding and managing the legal risks which can arise at each step, especially when faced with a demand for ransom payment.
As recent trends have shown, it is increasingly a matter of when, not if, a business will suffer a ransomware attack, and therefore having an adequate incident response capability is essential. Since many mid-sized and smaller organizations struggle to resource such a capability internally today, they increasingly seek to outsource cyber incident response to specialised managed cybersecurity service providers. Large organisations and enterprises can also struggle to sustain effective incident response capability as their teams are typically overwhelmed by alert fatigue over time, dulling responsiveness at all levels, and negating the actual as well as perceived value of reporting. Here too, an outsourced incident response capability, whether co-managed or fully managed by the provider in a ‘white gloved service’ scenario, is increasingly utilised by large enterprises today to maintain an optimised security posture while confirming the value of their investment in cybersecurity, and gaining strategic assurance as to their resilience against an evolving threat. Click here to find out more about our Incident Response services.
Effective crisis communications are crucial for minimizing harms and costs when cyber risk materialises, both in the short and long term. Organizations require a comprehensive and cohesive crisis communication plan that includes internal communication and external communications with stakeholders including customers, partners, and external agencies. In the immediate aftermath of a ransomware attack, the primary focus for victims tends to be on resuming normal operations as quickly as possible, and many lose sight of the importance and value of effective communications internally and externally in minimising both short term and long term impacts which takes more than managing technical recovery efforts and addressing any data breaches or losses.
This is where a managed crisis communications capability ensuring timely, clear, and coordinated stakeholder communication from the outset of an incident can minimize both short-term and long-term reputational damage as well as financial harm, while allowing the organisation to focus efforts on restoration of systems and services. Click here to find out more.
When a ransomware attack occurs, time is of the essence. Organizations must quickly engage legal and cybersecurity experts to negotiate with attackers. This process requires a deep understanding of the legal landscape, including regulations and potential consequences of payment or non-payment. Legal advisors can provide guidance on how to approach negotiations, balancing the need to restore systems with the imperative to avoid incentivizing criminal activity. Additionally, they ensure compliance with laws and regulations, including the key aspect of reporting requirements.
Navigating the legal and regulatory landscape is a key component of cyber risk management today and is critical in cyber extortion cases. Organizations must understand their legal obligations and the regulatory requirements related to data breaches and cyber extortion incidents. This includes reporting obligations to authorities and affected individuals, as well as compliance with data protection regulations such as the General Data Protection Regulation (GDPR). Click here to find out more.
Contact us today to learn more about our services and how we can help you build and maintain resilience against cyber extortion through proactive risk management and mitigation.