MOVEit Breach: What to Know About this Critical Data Breach

October 26, 2023

iStock

We’ve reported extensively on the damaging saga of the MOVEit data breach, a series of interconnected attacks that began in May 2023. The full scope of the attack is not yet known, but it has affected millions of people, and many dozens of businesses and organizations. Read on for the low-down.

What Is the MOVEit Breach?

MOVEit, a file transfer platform that is used by organizations worldwide to move sensitive personal data, fell victim to a cyberattack in May 2023. The attack was subsequently found to have been carried out by CL0P, a Russian cybercriminal gang who specialize in ransomware hacks. CL0P was able to exploit a security vulnerability in MOVEit systems.

Since May, the hack has impacted millions of people, with big names affected including:

Umpqua Bank,
Minnesota Department of Education,
Louisiana’s Office of Motor Vehicles,
Nova Scotia provincial government,
British Airways,
The British Broadcasting Company (BBC),
The U.K. drugstore chain Boots,
And federal agencies like the U.S. Department of Energy.

What Are the Risks of the MOVEit Breach?

The breach raises concerns about the possible misuse of confidential files and information, with compromised data including:

Full name
Date of birth
Mailing addresses
Social Security number (SSN)
Driver’s license
Banking and payment info
Other personally identifiable information (PII)

As cybercriminals extend their reach, the threats of identity theft, data manipulation, and unauthorized access become increasingly prominent.

What Are the Damage Costs of this Breach?

The aftermath of the MOVEit breach extends beyond compromised data. The costs of the breach are still being calculated. According to IBM initial findings, data breaches cost an average of $165 USD per record. Based on the number of individuals confirmed to have been impacted by the MOVEit breach, that puts the cost at over $10 billion USD.

List of Attacks Related to MOVEit Breach

The following are articles we have published related to the MOVEit breach:

How to Prevent Being the Victim of a Data Breach

To prevent similar breaches from happening in the future, organizations and individuals should take several steps:

Restrict or limit access: Each person who has access or potential access to data is another vulnerability.
Cybersecurity education: It is important that everyone in the organization knows how to generate strong passwords, how to properly file and store data, and how to be cautious of scams.
Use security software: Firewalls, anti-virus software, and anti-spyware software are important tools to defend your business against data breaches.
Use multi-factor authentication: Add an extra layer of protection to safeguard sensitive data.
Keep backups separate from production networks: If ransomware infiltrates the production networks it could corrupt any backups attached to that network.

How to Spot Identity Theft

Below are some of the things you can do to look out for signs of identity theft:

Look for charges/bills you don’t recognize. Additionally, if you stop receiving a regular bill, it could mean that somebody has changed your billing address.
Keep an eye on your bank statements. Look for any withdrawals, transfers, or payments you don’t recognize.
Watch out for your mail going missing or new, unexpected mail.
Monitor your social media accounts for suspicious activity.
Regularly review your credit reports for suspicious activity. You are entitled to one free credit report from the three national credit reporting agencies (Equifax, Experian, and TransUnion). Click here to learn how to get a free credit report (it’s easy!).
Be wary of unusual tax documents. Identity thieves love to file fraudulent tax returns in people’s names and steal their tax refunds. If you receive any correspondence about a tax return that you haven’t filed, it could be a sign that this has happened to you.
Be cautious of unexpected SMS/email verification codes because it could mean that someone is trying to access your account.

As the MOVEit breach sends ripples across the cybersecurity realm, it serves as a reminder of the persistent threats in the digital world. By learning from these incidents, strengthening security measures, and developing a culture of cyber resilience, we can navigate through the challenges posed by emerging cyber threats.

Protecting Your Identity and Personal Info

Compromised personal data can have serious consequences, including identity theft, financial fraud, and job losses. The best thing you can do is a) have reliable cybersecurity protection, and b) ensure you will find out ASAP in the event of being affected. We would encourage readers to head over to our new FREE ID Protection platform, which has been designed to meet these challenges.

With ID Protection, you can:

to see if your data (email, number, password, credit card) has been exposed in a leak, or is up for grabs on the dark web;
your social media accounts with our Social Media Account Monitoring tool, with which you’ll receive a personalized report;
the strongest tough-to-hack password suggestions from our advanced AI (they’ll be safely stored in your Vault);
a safer browsing experience, as Trend Micro checks websites and prevents trackers.
comprehensive remediation and insurance services, with 24/7 support.

Offering both free and paid services, ID Protection will ensure you have the best safeguards in place, with 24/7 support available to you through one of the world’s leading cybersecurity companies. Trend Micro is trusted by 8 of the top 10 Fortune 500 Companies — and we’ll have your back, too.

Try ID ProtectionIt’s free

Why not give it a go today? As always, we hope this article has been an interesting and/or useful read. If so, please do SHARE it with family and friends to help keep the online community secure and informed — and consider leaving a like or comment below. Here’s to a secure 2023!

Share this article:

Was this article helpful?