Ransomware Attack on Standard Building Supplies Ltd.

Company Overview

Standard Building Supplies Ltd. is a leading provider of quality building products and exceptional customer service. They offer a wide range of products and services, including framing, forming, engineered wood products, insulations, cladding, decking, and landscaping. The company prides itself on on-time delivery and maintaining a safe and healthy environment for their customers and employees.

Vulnerabilities and Impact

The specific details of the attack and its impact on Standard Building Supplies Ltd. are not publicly available. However, ransomware attacks typically involve malicious software that encrypts a target's computer system, demanding a ransom payment in exchange for the decryption key. The attack could potentially disrupt the company's operations, compromise sensitive data, and result in financial losses.

Industry Trends and Mitigation

Ransomware attacks are a growing concern for businesses across industries, with an average of over 4,000 attacks per day since January 1, 2021, representing a 300-percent increase over the approximately 1,000 attacks per day in 2015. To mitigate the risks of ransomware attacks, companies should implement a defense-in-depth strategy that integrates security with data protections. This includes end-user education, group policies, and disconnected backups managed by a system separate from the production environment.

The ransomware attack on Standard Building Supplies Ltd. highlights the increasing threat of cyberattacks on businesses, particularly in the retail sector. Companies must remain vigilant and implement robust security measures to protect against such threats.

Sources

• Standard Building Supplies Ltd. Home page. Retrieved April 10, 2024, from https://www.standardbuildingsupplies.ca.
• CBC News. Ransomware attack on construction company raises questions about federal contracts. Retrieved April 10, 2024, from https://www.cbc.ca/news/politics/ransomware-bird-construction-military-1.5434308.
• Rubrik. Langs Building Supplies Stops Ransomware Attack Due to a Next-Gen Backup Solution. Retrieved April 10, 2024, from https://www.rubrik.com/content/dam/rubrik/en/resources/case-study/Case-Study-Langs-Ransomware.pdf.