With the Federal Reserve falling victim to a cyber attack, experts reiterate the importance of businesses taking proper precautions against such situations.

Disaster recovery planning is crucial for organizations of all sizes

In this digital age it is nearly impossible for an organization to thrive without being connected to the internet. With more companies of all sizes becoming reliant on computer systems, having a comprehensive disaster recovery plan could prove to be crucial. Cyber criminals are sharpening their skills to keep pace with evolving security measures and business owners must take necessary precautions to keep their organizations protected.

In order to ensure quick business resumption should any malfeasance take place, working with business continuity consultants can help companies perform thorough risk analyses. The right preparation will educate employees and provide solutions to repair damages that occur.

Anonymous takes credit for hacking Federal Reserve

The U.S. Federal Reserve announced earlier this week that it was the latest victim of a widespread cyber attack. According to Reuters, the confirmation follows a claim by Anonymous – a large hacking group responsible for multiple data breaches – that they infiltrated the Fed’s system, accessing personal information of more than 4,000 U.S. bank executives and subsequently posting it online. 

“The Federal Reserve System is aware that information was obtained by exploiting a temporary vulnerability in a website vendor product,” a spokeswoman from the Federal Reserve Bank of Richmond said in an emailed statement. “The exposure was fixed shortly after discovery and is no longer an issue. This incident did not affect critical operations of the Federal Reserve System,” according to the statement.

Mark Rasch, director of privacy and security consulting at the Computer Sciences Corporation (CSC) and a former federal cyber crimes prosecutor, told Reuters that every system is going to have some type of vulnerability. He explained that it is not possible to set up a system that is secure against all possible attacks. However, it’s up to organizations to prepare themselves as best they can.