Case Study: Community Development Financial Institution
This member-owned organization fortified their cybersecurity profile to protect sensitive data from ransomware attacks 24/7/365.
About our customer
A member-owned financial institution dedicated to helping its customers live better lives, this organization provides personalized services and advantages like higher interest rates on savings and lower rates on loans. They’re in the business of building lifelong financial relationships … and member trust is paramount. With anti-virus software and firewalls installed, they thought they had the right systems in place to safeguard their data and protect their members. But with the increase in the frequency and sophistication of ransomware attacks, would they be enough? And what happens when there is a breach?
No multi-layered protection beyond firewall security
Lack of response protocols in place to mitigate encryption of files stemming from a ransomware attack
Zero visibility into potentially affected files
Nothing in place to consistently monitor for, or respond to, an active attack
The importance of cybersecurity cannot be overestimated. According to industry estimates, ransomware can encrypt close to 50,000 files a minute — and it only takes one to cause irreparable damage to an organization. While anti-virus software and firewalls provide important protections, implementing a holistic, multi-layered solution is the best bet for maintaining data security and protecting a company’s most important asset: their information. With this in mind, our customer reached out to Ricoh to explore solutions.
“With ransomware attacks on the rise, we knew we had to implement a last line of defense should our anti-virus software or firewalls fail. Knowing member data, as well as proprietary company information, is safe and well secured is priceless.”
Installed RansomCare®, powered by BullWall
Established protocols to stop encryption and isolate endpoints
Offer detailed reporting of all affected files from an outbreak
Provide 24/7/365 monitoring via agentless software
After learning about the business challenges, best practices, and current concerns, Ricoh set up a demonstration with the team. Our customer prioritizes protecting their members’ data and already had cybersecurity measures in place that were comparable to other institutions in size and scope. However, Ricoh identified multiple susceptibilities in their existing software and firewalls right away. A data-rich report was quickly produced to show how to patch their vulnerabilities now and safeguard them moving forward.
Satisfied internal/external stakeholders
Robust protections in place in case anti-virus and firewalls fail
Industry-standard response protocols
Meeting data restoration and compliance needs
Maintaining 24/7/365 support with minimal investment
Sensitive to matters of data and security, our customer already had anti-virus software and firewalls in place to help thwart cyber attacks. But if there were a systems failure in one or both of those protections, or even just an exposed vulnerability, an attempt could turn into an attack — with nothing in place to stop it. Furthermore, without 24/7/365 monitoring in place, the ramifications of such a breach could be severe.
After understanding the gravity of what could happen, our customer engaged with Ricoh to fix existing security issues and prevent future cyberattacks from causing irreparable harm. With the ransomware containment solution now installed, they have always-on monitoring, protocols to stop encryption and isolate endpoints, and the ability to provide detailed reporting of all affected files from an outbreak — giving the team total visibility as well as peace of mind.
Is your company’s data as safe as you think? Let’s find out together — explore the ransomware containment solutions.