In December 2022, NGNSYS, LLC, with our headquarters in Houston, TX, was contacted by a security software development company specializing in the oil and gas sector following a serious cyber attack. This incident serves as a critical reminder of the vulnerabilities that small and medium-sized businesses face in today’s digital landscape and highlights the importance of Houston cybersecurity.

The Incident: Email Account Compromise (EAC) Attack

The victim company found themselves in disarray when they discovered a missing payment from a customer. The payment had been wired after completing a series of communications that included email correspondences and a confirmed phone call. However, unbeknownst to the employees, the email system had been compromised in an Email Account Compromise (EAC) attack. Cybercriminals had effectively impersonated an employee, leading the customer to unknowingly send a substantial sum of money—several hundred thousand dollars—directly to the attackers.

Our Houston cybersecurity company responded swiftly to this alarming situation. We quickly identified the method the attackers used to gain access to the company’s systems, cleaned up the infiltration, and restored normal operations. During our investigation, we discovered additional systems affected by malware that the attackers embedded in the company’s software product, aimed at gaining access to their customers. We eliminated these threats and instituted a fortified cybersecurity posture that included a comprehensive defense in depth strategy for future protection.

The Growing Threat of Cyber Attacks

The unfortunate reality reflected in this incident is emblematic of a broader crisis. Approximately 43% of cyber attacks specifically target small businesses, and the average cost of a cyber attack can reach around $200,000 for these businesses. Alarmingly, 60% of small companies that experience a major cyber attack will go out of business within six months, underscoring the urgency for robust Houston computer security measures.

At NGNSYS, we receive calls related to such cyber attacks on a near-weekly basis, signaling that no company is immune to these threats—regardless of size or industry.

Understanding Key Cybersecurity Strategies

Defense in Depth

One of the strategies we implemented for the victim company is known as Defense in Depth. This multi-layered approach to cybersecurity utilizes various security measures to protect data and internal systems. By integrating protections at multiple levels, including network perimeter, endpoints, application, and data layers, businesses can significantly reduce vulnerabilities and enhance their overall Houston IT management.

Least Privileged Access Model

In addition to a defense in depth strategy, we built a Least Privileged Access Model for the company’s infrastructure. This model dictates that users and systems are granted the minimal level of access necessary to perform their job functions. By limiting access, businesses can mitigate the risk of internal and external threats and minimize the potential impact of a compromised account.

Secure Software Development Environment

Given that the attacked company was in the business of developing security software, we established a highly secure software development and testing environment. This environment incorporates best practices for safeguarding development processes, ensuring that code is created and tested in isolation from potential threats. Security measures within this environment include automated testing for vulnerabilities, robust access controls, and continuous monitoring for unauthorized changes. These practices are essential components of Houston managed IT services for businesses that require ongoing protection.

Steps to Secure Your Business

To fortify your own organization against cyber threats, consider implementing the following best practices:

1. Conduct Regular Security Training: Regularly educate employees on recognizing phishing attempts, the importance of secure communications, and how to adhere to security protocols.
   
2. Implement Multi-Factor Authentication (MFA): Enforcing MFA can help prevent unauthorized access to accounts, especially in the event of compromised credentials.
   
3. Utilize Strong Access Policies: Adopting a Least Privileged Access Model can significantly enhance security by reducing the potential attack surface.
   
4. Regular Security Audits and Penetration Testing: Conduct audits to identify vulnerabilities and use penetration testing to proactively discover weaknesses in your security defenses.
   
5. Establish an Incident Response Plan: Develop a clear plan detailing how to respond swiftly if a breach occurs, including external communications and mitigation steps.
   
6. Data Encryption: Implementing encryption standards for sensitive data can protect it both at rest and during transmission.

Conclusion

Cyber threats are evolving, and businesses of all sizes must take cybersecurity seriously. As a trusted Houston cybersecurity company, NGNSYS, LLC is committed to helping organizations secure their operations through industry-leading security solutions, Houston managed IT services, and proactive threat prevention.

With locations in Houston, Charlottesville, the Orlando area, and Grenada, we are ready to assist businesses in navigating the complex cybersecurity landscape. Don’t wait for a cyber attack to take action—visit www.ngnsys.com to learn how we can strengthen your Houston IT management and protect your business from security threats.

Stay vigilant. Stay secure.