In a recent announcement, Ferrari, the luxury car manufacturer, revealed that it had suffered a data breach and ransomware attack.

The cyber attack took place in November 2021, and it was discovered that the hackers had accessed sensitive information, including the personal financial data of its customers, employees, and suppliers.

Ferrari’s Statement

Ferrari made a statement published yesterday that the “ransom demand related to certain client contact details“, and they also claim to have informed the “relevant authorities“.

“As a policy, Ferrari will not be held to ransom as paying such demands funds criminal activity and enables threat actors to perpetuate their attacks. Instead, we believed the best course of action was to inform our clients and thus we have notified our customers of the potential data exposure and the nature of the incident.”

“Ferrari takes the confidentiality of our clients very seriously and understands the significance of this incident.”

Consequences of the attack

No financial or vehicle details have been stolen, but the hackers had access to names, addresses, email addresses and telephone numbers.

It is currently unclear how many of Ferrari’s customers have been affected or exactly which threat group attempted to extort the sports car giant.

However, in October 2022 a ransomware group known as RansomEXX posted over 7 GB of stolen internal Ferrari data. Not only did this include their customer data sheets, but it also included repair manuals for some of their vehicles.

How MSSPs can help

As the world becomes increasingly digitised, cyber threats are becoming more sophisticated and frequent. Companies of all sizes and industries are vulnerable to cyber-attacks, and the consequences can be severe. Not only can data breaches lead to reputational damage and financial losses, but they can also put sensitive information at risk, leading to potential legal and regulatory repercussions.

To mitigate these risks, many companies turn to Managed Security Service Providers (MSSPs) for protection. MSSPs offer a range of security services, including threat detection and response, vulnerability management, and compliance monitoring, to name a few. By partnering with an MSSP, companies can benefit from a team of experts who have the knowledge and experience to protect against cyber threats, such as this Ferrari cyber attack.

One of the key ways MSSPs can help prevent cyber-attacks is by implementing a robust cybersecurity strategy. This involves identifying potential vulnerabilities in a company’s infrastructure, developing and implementing security policies, and regularly monitoring and updating security measures. MSSPs can also provide continuous monitoring and threat detection, which allows them to detect and respond to potential threats before they cause any damage.

Another way MSSPs can help prevent cyber-attacks is by providing employee training and awareness programs. Employees are the weakest link in a company’s security posture, as they may unknowingly click on malicious links or download infected files. By educating employees on the importance of cybersecurity and providing regular training, MSSPs can help prevent human error from leading to a data breach.

How does the Ferrari breach affect you?

If you are a Ferrari customer or have worked with or for Ferrari S.p.A., it is important to check if you have received any communication regarding this recent attack.

We all want to feel confident that we have taken appropriate measures to protect our organisation and the sensitive data that it holds, be that internal or third-party data and this can be done most easily by certifying to the Cyber Essentials standard.

By achieving a strong basic foundation of security, such as Cyber Essentials, you can proudly declare your level of protection to stakeholders and other third parties, demonstrating that you take data compliance seriously. In the event that you become the victim of an attack, you will be better placed to defend your organisation and show that you have taken steps to protect your data, which will have a direct impact when dealing with the authorities during any subsequent investigation.

Achieving certification for Cyber Essentials is a relatively straightforward process, and as an NCSC certification body, TecSec Services can work with you to both implement the necessary controls and can directly certify your organisation.