Meiji Yasuda America Inc. Suffers Ransomware Attack by Lockbit3

Overview of the Incident

Meiji Yasuda America Inc., an entity within the Insurance sector, has fallen victim to a ransomware attack orchestrated by the Lockbit3 group. This incident was disclosed on the group's dark web leak site. Meiji Yasuda America Inc. is a subsidiary of the Japanese conglomerate Meiji Holdings Co., Ltd., known for its diverse range of food products including snacks and confectioneries.

Company Profile

Despite the lack of specific details regarding the size of Meiji Yasuda America Inc., its parent company, Meiji Holdings Co., Ltd., boasts a significant presence in the food industry with a market capitalization of around ¥1.1 trillion (US$9.6 billion) as of 2023. The affiliation with Meiji Holdings enhances Meiji Yasuda America Inc.'s standing in the market, leveraging a history of quality and consumer trust.

Analysis of Vulnerabilities

The exact vulnerabilities exploited in the ransomware attack on Meiji Yasuda America Inc. remain unspecified. Nonetheless, ransomware campaigns typically leverage flaws in software, outdated systems, or inadequate security protocols. It underscores the necessity for organizations to implement comprehensive cybersecurity strategies. These should include the enforcement of regular software updates, the utilization of strong authentication methods, and the provision of employee education on the risks of phishing and other social engineering techniques.

Robust cybersecurity practices are paramount for companies to safeguard against the evolving threat landscape, particularly from ransomware attacks which have become increasingly sophisticated.

Sources

• "Ransomware: Recent advances, analysis, challenges and future directions" (2021)
• "Mitigating malware and ransomware attacks" (NCSC.GOV.UK)
• "Ransomware Attacks and Mitigation Strategies" (LinkedIn)
• "Internet of things and ransomware: Evolution, mitigation and prevention" (ScienceDirect)
• "A Socio-Technical Approach to Preventing, Mitigating, and Recovering from Ransomware Attacks" (NCBI)