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Analyze » The Co-operative Bank » THEBARHSBLLONATMAR1774391436

Incident Score: Analysis & Impact (THEBARHSBLLONATMAR1774391436)

The details regarding individual company incidents & reports gives you full view from every side.

Rankiteo Score Impact Analysis

Rankiteo Incident Impact-20
Company Score Before Incident756 / 1000
Company Score After Incident736 / 1000
Company LinkView The Co-operative Bank Profile
INCIDENT NUMBERTHEBARHSBLLONATMAR1774391436
Type of Cyber IncidentCyber Attack
ATTACK VECTORNA
DATA EXPOSEDNA
INCIDENT DATE31/12/2022
STATUSpublished

Key Highlights From The Incident Analysis

  • Timeline of The Co-operative Bank's Cyber Attack and lateral movement inside company's environment.
  • Overview of affected data sets, including SSNs and PHI, and why they materially increase incident severity.
  • How Rankiteo’s incident engine converts technical details into a normalized incident score.
  • How this cyber incident impacts The Co-operative Bank Rankiteo cyber scoring and cyber rating.
  • Rankiteo’s MITRE ATT&CK correlation analysis for this incident, with associated confidence level.

Full Incident Analysis Transcript

In this Rankiteo incident briefing, we review the The Co-operative Bank breach identified under incident ID THEBARHSBLLONATMAR1774391436.

The analysis begins with a detailed overview of The Co-operative Bank's information like the linkedin page: https://www.linkedin.com/company/the-co-operative-bank, the number of followers: 5739, the industry type: Banking and the number of employees: 546 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 756 and after the incident was 736 with a difference of -20 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 The Co-operative Bank and their customers.

HSBC UK recently reported "UK Banking Sector Faces Relentless Cyber Threats and IT Failures", a noteworthy cybersecurity incident.

The UK’s financial sector is grappling with escalating cybersecurity risks and frequent IT outages, with bank executives warning of severe consequences for market stability and public trust.

The disruption is felt across the environment, affecting Banking services, customer access to funds.

In response, and began remediation that includes Investing hundreds of millions of pounds to bolster IT systems, and stakeholders are being briefed through Public apologies from executives (e.g., Barclays UK CEO Vim Maru).

The case underscores how teams are taking away lessons such as Businesses should assume a cyberattack is a matter of *when*, not *if*. The financial sector must prioritize cybersecurity investments and resilience planning, and recommending next steps like Increase investment in IT systems, enhance monitoring and response capabilities, and prepare for inevitable cyber threats.

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.

MITRE ATT&CK® Correlation Analysis

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 Exploit Public-Facing Application (T1190) with moderate confidence (60%), with evidence including escalating cybersecurity risks and frequent IT outages, and iT system vulnerabilities and External Remote Services (T1133) with moderate confidence (50%), supported by evidence indicating banking services, customer access to funds disrupted. Under the Impact tactic, the analysis identified Endpoint Denial of Service (T1499) with high confidence (90%), supported by evidence indicating 158 IT outages totaling 803 hours (33 days) of disruption and Service Stop (T1489) with moderate to high confidence (80%), supported by evidence indicating customers unable to access funds during Barclays outage. Under the Credential Access tactic, the analysis identified Brute Force (T1110) with lower confidence (40%), supported by evidence indicating relentless and increasingly sophisticated attacks and Modify Authentication Process (T1556) with lower confidence (30%), supported by evidence indicating iT system vulnerabilities and frequent outages. Under the Defense Evasion tactic, the analysis identified Valid Accounts (T1078) with moderate confidence (50%), supported by evidence indicating no evidence of malicious intent in Barclays outage and Impair Defenses: Disable or Modify Tools (T1562.001) with lower confidence (40%), supported by evidence indicating iT outages affecting 1.2 million people. Under the Exfiltration tactic, the analysis identified Exfiltration Over C2 Channel (T1041) with lower confidence (30%), supported by evidence indicating criminals monetizing breaches more efficiently. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.

Initial Access
Exploit Public-Facing Application (60%)
External Remote Services (50%)
Impact
Endpoint Denial of Service (90%)
Service Stop (80%)
Credential Access
Brute Force (40%)
Modify Authentication Process (30%)
Defense Evasion
Valid Accounts (50%)
Impair Defenses: Disable or Modify Tools (40%)
Exfiltration
Exfiltration Over C2 Channel (30%)

Sources & References