International Business Management

Running Head: INTERNATIONAL BUSINESS MANAGEMENT
International Business Management
Name of Student:
Name of University:
Author’s Note:

1
INTERNATIONAL BUSINESS MANAGEMENT
Question 1
Business media source: https://www.zdnet.com/article/state-farm-says-hackers-confirmed-
valid-usernames-and-passwords-in-credentials-stuffing-attack/
Name of firm/organization: State Farm
Discussion:
Cyber crime continues to be one of the biggest threats to businesses around the world.
According to a report by ZD Net, a business technology news portal, US banking and insurance
firm, State Farm was hit by a credential stuffing attack in July (Cimpanu 2019). Credential
stuffing is a form of data breaching cyber attack, whereby the attacker steals the username and
password combinations of a number of accounts to get unauthorized access. According to State
Farm, the attacker confirmed the usernames and passwords of the accounts of the victims.
However no personal information was compromised and the company did not report any case of
fraudulent activity from any of the confirmed accounts. Customers used these accounts to pay
bills, transfer funds and access and manage insurance claims.
State Farm claimed that it reset all passwords of the affected accounts as soon as possible
to avert any possible damage or theft. They further said that they implemented additional cyber
control methods and continued to evaluate their information security strategies to avoid such
attacks in future (Cimpanu 2019). The firm repeatedly requested customers to update and set up
new, unique passwords as frequently as possible and use multi-factor authentication to ensure
maximum security against credential crackers and other such online threats.