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MGM and Caesars data breach is reportedly connected to Clorox cyberattack

The Clorox Company (CLX) recently suffered a cyberattack attributed to the hacker group known as “Scattered Spider”, according to a Bloomberg report. The same group was allegedly responsible for recent breaches against Las Vegas casino-hotel operators MGM Resorts International (MGM) and Caesars Entertainment (CZR). Clorox stated that the security incident is expected to result in sales losses exceeding 20%. Forrester Principal Analyst for Security Allie Mellen emphasizes all organizations are potential targets for cyberattacks, with hackers favoring those that impact “business continuity.” She advises organizations to implement security measures and policies across all facets of a business, not solely within the security department. “It’s not surprising to see that these are the types of targets that they would choose in particular because many of the organizations that they’re choosing to target rely on continuous uptime,” Mellen tells Yahoo Finance, adding: “and that’s especially true for organizations like casinos and consumer goods, so ultimately those are gonna be huge targets because they’re the ones who are really going to feel the pain from these types of attacks.” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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