Ransomware Strikes World's Largest Bank: A Security Blueprint for SMBs

The recent ransomware compromise of the Industrial and Commercial Bank of China (ICBC), leading to emergency USB stick transactions, presents more than headline news—it’s a cautionary tale for small to medium-sized businesses (SMBs). In a landscape where cyberthreats are increasingly sophisticated, the question looms: if the world’s largest bank can get hacked, what’s an SMB to do?

Yiğit Çallı
Yiğit Çallı
11 November 2023

The ICBC Event: Noone is Immune to Ransomware

The ICBC breach is a powerful wake-up call; it illustrates that cybercriminals and the technology that enables them allow for targeting and succeeding at hacking of the largest financial institutions. SMBs, often much less equipped than enterprises when it comes to security posture along with less security training, are in the sweet spot for lots of hackers that love the lack of scrutiny compared to larger breaches that involve the FBI and significant news coverage. 

Zero Trust Network Security for the Cloud Era - Enter Timus 

At Timus, we specialize in protecting SMBs’ networks, their apps and data via our  best-of-breed, award winning Zero Trust Network Security Solution. Timus combines secure, zero-trust network access with an intelligent cloud firewall that adapts in real-time to the risk profile of the users asking to get access to the network. An employee traveling out of the country on business might be asked to do a layered MFA before being allowed access. A hacker who stole user credentials might still get caught among other things through the “impossible travel” check. Through our platform, remote employees can remain as productive as being  in-office while the company network stays protected via solid secure remote access mechanisms. 

Built by firewall experts with decades of cybersecurity experience, Timus already serves 15,000 SMB clients worldwide. 

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