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The Emerging Risk Landscape

Cybercriminals are becoming more interested in supply chain attacks.

Hackers are now specifically targeting managed service providers (MSPs) and cloud hosting providers, knowing that one successful compromise can give access to thousands of organisations’ networks.

The Go Anywhere breach is one recent example. Hackers targeted a vulnerability in GoAnywhere file transfer software to steal data from organizations using the vulnerable software. For some organizations who were extorted and declined to pay, the hackers moved on to extorting Go Anywhere’s clients, aggressively calling and harassing employees of companies that use Go Anywhere’s services.

Software vendors are also targets. A 3CX employee recently downloaded trading software that contained malicious content giving cybercriminals access to the 3CX network. From there, the hackers introduced malware into 3CX’s software that customers unwittingly downloaded.

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Other supply chain cases we’ve seen include one in France, where more than 100 client infrastructures were compromised and encrypted, and one in Spain, where the insured’s network was not encrypted, but their clients’ infrastructures were all encrypted over one weekend.
Charlotte Jephos

Beazley Claims Manager, Paris

The information set forth in this document is intended as general risk management information. It is made available with the understanding that Beazley does not render legal services or advice. It should not be construed or relied upon as legal advice and is not intended as a substitute for consultation with counsel. Beazley has not examined and/ or had access to any particular circumstances, needs, contracts and/or operations of any party having access to this document. There may be specific issues under applicable law, or related to the particular circumstances of your contracts or operations, for which you may wish the assistance of counsel. Although reasonable care has been taken in preparing the information set forth in this document, Beazley accepts no responsibility for any errors it may contain or for any losses allegedly attributable to this information.