Citrix Data Breach

Topics: Cyber Liability Small Business Advice

On March 6, 2019, the FBI told Citrix, a multinational software and cloud computing company, that the company’s network was attacked by international cybercriminals. The data breach could potentially give the hackers access to over six terabytes of sensitive data stored on the Citrix enterprise network. Currently, Citrix provides access to virtual private networks to over 400,000 businesses worldwide.

Cyber Criminals Gain Access to Citrix Network

The FBI believes that the cyber attackers used a tactic called password spraying, which exploits weak passwords by attempting to access a large number of accounts with a few commonly used passwords. Once the hackers got into Citrix’s system, they broke through additional layers of security.

Ian Thornton-Trump, Head of Cyber Security for AmTrust International, quoted in the Forbes article about the data breach, stated that the cyber incident could be more serious than we currently know with the criminals getting access to data from older Citrix products. Find out more of Ian’s concerns and recommendations for companies to increase cybersecurity in the Forbes article.

Protect Your Company with Cyber Liability Insurance

Cyber liability insurance for small businesses provides a variety of services to address the modern day risks and threats of business identity theft and data breaches. For more information about cyber liability coverage in the time of data privacy, contact AmTrust Financial Services or your AmTrust-appointed agent.

This material is for informational purposes only and is not legal or business advice. Neither AmTrust Financial Services, Inc. nor any of its subsidiaries or affiliates represents or warrants that the information contained herein is appropriate or suitable for any specific business or legal purpose. Readers seeking resolution of specific questions should consult their business and/or legal advisors. Coverages may vary by location. Contact your local RSM for more information.

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