Finnco Packaging Suffers Ransomware Attack

Finnco Packaging, a company specializing in flexible, printed, and laminated packaging solutions, has been targeted by the ransomware group Lockbit3. The attack was announced on the group's dark web leak site, and the victim's website is currently under threat. Operating within the manufacturing sector, Finnco Packaging is renowned for its innovative approach to packaging solutions, catering to a diverse range of industries with its flexible, printed, and laminated products.

Company Profile

Finnco Packaging, rooted in Brazil, provides an extensive array of packaging solutions. Their offerings encompass paper-based and film-based packaging, alongside anti-humidity solutions tailored for the paper industry, addressing the needs of various sectors with their flexible, printed, and laminated packaging options.

Vulnerabilities and Attack Vectors

Ransomware attacks leverage weaknesses such as software vulnerabilities, unpatched systems, or insufficiently secure credentials. A 2022 report by Unit 42 indicates that 48% of ransomware incidents originated from software vulnerabilities, with 32% commencing from an exploited vulnerability. While specific details regarding the attack vector on Finnco Packaging remain undisclosed, the company's website has been identified as the focal point of the assault.

Mitigation Strategies

To counteract the threat of ransomware attacks, organizations are advised to adopt a comprehensive approach encompassing:

• Software Updates and Patches: Ensuring timely software updates and the application of patches to rectify known vulnerabilities.
• Credential Security: Enforcing robust password policies and multi-factor authentication to safeguard against brute-force attacks on credentials.
• Employee Training: Conducting educational sessions on phishing and social engineering tactics to diminish the likelihood of such attacks succeeding.
• Backup and Recovery: Maintaining regularly tested backups to facilitate swift recovery in the event of an attack.

The ransomware attack on Finnco Packaging underscores the critical importance of cybersecurity within the manufacturing industry. Vigilance against potential attack vectors, coupled with the implementation of stringent security measures, is imperative for safeguarding systems and data against the menace of ransomware.

Sources

• What are Ransomware Attacks? - Palo Alto Networks https://www.paloaltonetworks.com/cyberpedia/what-is-ransomware
• Unpatched Vulnerabilities: The Most Brutal Ransomware Attack Vector - Sophos News https://news.sophos.com/en-us/2020/01/30/unpatched-vulnerabilities/
• Ransomware attacks - Internet Crime Complaint Center(IC3) https://www.ic3.gov/Media/Y2020/PSA200702
• What is Ransomware | Attack Types, Protection & Removal | Imperva https://www.imperva.com/learn/application-security/ransomware-attacks/
• Ransomware Victims Surge as Threat Actors Pivot to Zero-Day Exploits - Dark Reading https://www.darkreading.com/attacks-breaches/ransomware-victims-surge-as-threat-actors-pivot-to-zero-day-exploits