Dear Elevation Insights Community,
In light of the recent cyber attack on CDK Global, it’s more crucial than ever for dealerships to reassess their vendor partnerships and cybersecurity measures. The attack on one of the automotive industry's key players highlights the need for robust defenses and proactive strategies to protect sensitive data and maintain operations.
Key Points from the CDK Global Cyber Attack:
- Attack Timeline and Impact: The cyber attack on CDK Global unfolded over several days, impacting dealership operations and access to critical data. The breach has caused significant disruptions, underscoring the vulnerability of even well-established industry giants.
- Response and Recovery: CDK Global’s response included isolating affected systems and working with cybersecurity experts to mitigate the damage. This response phase revealed the importance of having a clear, actionable recovery plan in place.
What to Look for in Vendor Partners Moving Forward:
- Advanced Firewalls and Intrusion Detection Systems: Ensure your vendor has advanced firewall protection and intrusion detection systems to monitor and block unauthorized access attempts. Regularly updated and patched firewalls are crucial in defending against the latest cyber threats.
- Robust Security Protocols:Vendors should implement multi-factor authentication (MFA) for all access points. Regular security audits and vulnerability assessments should be a standard part of their security protocol.
- FTC Compliance:Verify that your vendors comply with Federal Trade Commission (FTC) regulations regarding data protection and consumer privacy. Ensure they adhere to the latest standards and guidelines set forth by the FTC.
- Comprehensive Protections:Look for vendors who provide comprehensive cybersecurity insurance and incident response services. Evaluate their data encryption methods for both data at rest and in transit.
- Thorough Documentation:Vendors should offer detailed documentation of their security measures, including their incident response plan and disaster recovery protocols. Documentation should also cover their compliance with industry standards and regulatory requirements.
We Want Your Feedback: We are committed to helping our dealer partners navigate these challenging times. Your feedback is invaluable to us. What additional measures are you looking for in your vendor partners? How has the CDK Global incident influenced your approach to cybersecurity? Please share your thoughts and experiences by commenting below or sending an email to Chad Staples at [email protected].
Elevation Insights Team Elevation Dealer Services
