conti attacks Schultze and Braun
Incident Date:
February 24, 2022
Overview
Title
conti attacks Schultze and Braun
Victim
Schultze and Braun
Attacker
Conti
Location
First Reported
February 24, 2022
Schultze & Braun: A Law Firm Targeted by Ransomware Group Conti
Company Overview
Schultze & Braun, a distinguished German law firm, has been providing comprehensive legal, tax, and financial advisory services for nearly half a century. With a robust presence in Germany, through over 25 locations, and expansion into France and Italy, the firm has cemented its reputation in various legal domains, including insolvency, restructuring, and sanitation.
Industry Standout
The firm's unique selling proposition is its integrated approach, combining the expertise of lawyers, tax consultants, and auditors. This holistic solution enables Schultze & Braun to offer tailored advice and support, addressing various aspects of business operations comprehensively.
Vulnerabilities and Threats
The legal sector is increasingly becoming a target for cybercriminals, with ransomware attacks posing a significant threat. Law firms, like Schultze & Braun, manage and exchange vast quantities of sensitive data, making them attractive targets for cyber attacks. The recent attack by the Conti ransomware group highlights the critical need for stringent cybersecurity measures to safeguard client information and avert data breaches.
Ransomware Attack Type and Impact
Conti ransomware group, known for its sophisticated attack methodologies, often employs double extortion tactics. These involve exfiltrating data and threatening its release unless a ransom is paid. The repercussions of such attacks are profound, potentially leading to data loss, operational downtime, and reputational harm.
Mitigation Strategies
To counter the risks posed by ransomware attacks, law firms are advised to adopt comprehensive cybersecurity practices. These include regular software updates, employee cybersecurity awareness training, and the procurement of cyber insurance policies. Furthermore, the development and implementation of an incident response plan are crucial in mitigating the impact of potential cyber incidents.
The attack on Schultze & Braun by the Conti ransomware group serves as a stark reminder of the paramount importance of cybersecurity within the legal sector. Law firms must remain vigilant and proactive in implementing measures to protect their clients' data and uphold their reputations amidst the growing cyber threat landscape.
Sources
Recent Ransomware Attacks
The Recent Ransomware Attacks (RRA) site acts as a watchtower, providing you with near real-time ransomware tracking of attacks, groups and their victims. Given threat actors’ overarching, lucrative success so far, ransomware attacks have become the most ubiquitous, and financially and informationally impactful cyber threat to businesses and organizations today.
The site’s data is generated based on hosting choices of real-world threat actors, and a handful of other trackers. While sanitization efforts have been taken, we cannot guarantee 100% accuracy of the data. Attack updates will be made as source data is reported by reputable sources. By viewing, accessing, or using RRA you acknowledge you are doing so at your own risk.