In the News: Planet Home Lending notifies customers of LockBit ransomware incident

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Ashley Leonard, chief executive officer at Syxsense, said financial institutions will always be a target of cyberattacks because of the data they have and the need for high availability.

“If a bank’s operations are taken down, it can’t transact and make money, like in the case of Fidelity National Financial and now Planet Home,” explained Leonard.

Leonard added that the Citrix Bleed vulnerability has been incredibly difficult to mitigate, even for organizations that have patched their systems. Part of the attack path in exploiting this vulnerability is to leverage stolen credentials and bypass multi-factor authentication, said Leonard, “and once they have done that, they’re moving laterally throughout the network, making it difficult to find and root out.”