Critical Incident Response: Managing a Cyber Disruption and Preventing Future Business Interruption

Millions of computers around the world running cybersecurity software from CrowdStrike have been affected by a faulty code update. To reduce the impact and help companies recover faster, CrowdStrike and Microsoft have released tools to repair computers displaying blue screens and continuously rebooting.  

The impacts of this unprecedented event are still being felt, and it may take months to understand the full extent of the disruption. For now, business leaders have a wide range of challenges to overcome. The key steps they should take are: 

• Provide immediate technical support to fix machines, monitor systems, and augment teams that may need additional resources.
• Communicate consistently with employees, customers, and vendors about the status of computer systems and the recovery process.
• Evaluate the business operational impacts of the disruption and navigate towards the return to normal operations.
• Review insurance policies and contact insurance carriers because policies may require notification in a specific timeframe.
• Bolster cybersecurity defenses and remain vigilant to malicious threat actors attempting to exploit the situation.
• Facilitate post-mortem reviews to identify risks and opportunities to reduce the likelihood of recurrence.
  
  

BDO’s Resilience team can help with critical incidents like this one including the development and activation of business interruption response strategies, internal and external communications, and crisis management support. Our Insurance Claims Recovery team can help establish ways to track the financial impacts of the interruption and assist with insurance claim valuation. Our BDO Digital team can help with Managed IT services, including technical assistance for implementing fixes and rebooting systems, strategic consultation to minimize operational impact and enhance cybersecurity, and continuous monitoring to ensure system stability and security. Also, BDO can help with early case assessment and litigation support.

If your organization is experiencing disruptions, BDO is here to help. Our comprehensive services include:

Technical Assistance: Help in implementing the fix and rebooting impacted systems.

Consultation: Strategic advice on minimizing operational impact and enhancing cybersecurity measures

Risk Management: Conduct third-party risk assessments and after-action reviews to reduce future risks.

Continuous Support: Ongoing monitoring and support to ensure your systems remain stable and secure.

For immediate assistance or to learn more about how we can best support your organization, please contact us.