Fried Frank Breach Incident Score: Analysis & Impact (FRI1766606165)

In this Rankiteo incident briefing, we review the Fried Frank breach identified under incident ID FRI1766606165.

The analysis begins with a detailed overview of Fried Frank's information like the linkedin page: https://www.linkedin.com/company/friedfrank, the number of followers: 36750, the industry type: Law Practice and the number of employees: 1649 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 692 and after the incident was 628 with a difference of -64 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Fried Frank and their customers.

On 19 December 2024, Fried, Frank, Harris, Shriver & Jacobson LLP disclosed Data Breach issues under the banner "Fried Frank Data Security Incident and Alleged Failure to Safeguard Sensitive Information".

International law firm Fried, Frank, Harris, Shriver & Jacobson LLP allegedly failed to adequately safeguard sensitive personal information of account investments associated with a Goldman Sachs private equity fund.

The disruption is felt across the environment, and exposing Sensitive personal information including addresses, social security numbers, and banking information.

In response, teams activated the incident response plan, moved swiftly to contain the threat with measures like Prompt action to contain the incident, and stakeholders are being briefed through No direct notification to affected individuals; notification via Goldman Sachs.

The case underscores how Ongoing, and recommending next steps like Offer credit monitoring services to affected individuals, improve communication strategies for breach notifications, and enhance data security measures to prevent future incidents, with advisories going out to stakeholders covering Notification sent by Goldman Sachs on December 19, 2024; no direct notification from Fried Frank.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts (T1078) with moderate to high confidence (70%), with evidence including alleged failure to safeguard sensitive personal information, and exposure of SSNs and banking information and Trusted Relationship (T1199) with moderate to high confidence (80%), with evidence including goldman Sachs confirmed breach at Fried Frank, and investors data entrusted to law firm. Under the Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol (T1048) with moderate confidence (60%), with evidence including sensitive personal information exposed, and high risk of identity theft and Automated Exfiltration (T1020) with moderate confidence (50%), supported by evidence indicating data breach with no specified attack vector. Under the Credential Access tactic, the analysis identified Unsecured Credentials (T1552) with moderate to high confidence (70%), supported by evidence indicating alleged security lapse exposing banking details. Under the Defense Evasion tactic, the analysis identified Impair Defenses: Disable or Modify Tools (T1562.001) with moderate confidence (50%), supported by evidence indicating no direct notification to affected individuals. Under the Impact tactic, the analysis identified Data Destruction (T1485) with lower confidence (40%), supported by evidence indicating high sensitivity of exposed data and Data Encrypted for Impact (T1486) with lower confidence (30%), supported by evidence indicating no evidence of ransomware but high-risk exposure. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.