By Jason Zanetti 

Patch management is often viewed as a routine task, one that organizations sometimes overlook or delay in favor of other pressing priorities. However, the consequences of neglecting patch management can be severe, leading to devastating breaches, financial losses, and long-term reputational damage. When vulnerabilities are left unpatched, they become prime targets for cybercriminals, and the results can be catastrophic. 

In this blog, we’ll explore the real-world cost of neglecting patch management, highlight high-profile security breaches caused by unpatched vulnerabilities, and share lessons learned from these incidents to help organizations avoid similar pitfalls. 

What is Patch Management? 

Patch management refers to the process of identifying, testing, and installing software patches or updates to fix security vulnerabilities, improve performance, and ensure compliance. These patches address known flaws in operating systems, applications, and network devices, preventing cybercriminals from exploiting them. Regular patching is essential to keep systems secure, but many organizations fail to prioritize this crucial aspect of cybersecurity. 

Real-World Breaches Caused by Unpatched Vulnerabilities 

Over the years, several high-profile breaches have occurred as a direct result of unpatched vulnerabilities. These incidents serve as stark reminders of the importance of maintaining an up-to-date patch management process. 

1. Equifax Data Breach (2017)

The Equifax data breach is one of the most notorious examples of the consequences of neglecting patch management. In 2017, hackers exploited a vulnerability in the Apache Struts web application framework to gain access to Equifax’s systems. This vulnerability had a patch available months before the breach, but Equifax failed to apply it in time. 

As a result, the breach exposed the personal information of approximately 147 million people, including Social Security numbers, birth dates, and addresses. The breach cost Equifax over $1.4 billion in settlements, legal fees, and remediation efforts. Beyond the financial cost, the company faced a severe blow to its reputation, with customers losing trust in the organization’s ability to safeguard sensitive data. 

Lesson Learned: Failure to apply critical patches in a timely manner can lead to massive data breaches and substantial financial and reputational damage. Organizations must prioritize patching and implement automated patch management systems to ensure vulnerabilities are addressed immediately. 

2. WannaCry Ransomware Attack (2017)

The WannaCry ransomware attack in 2017 targeted Windows operating systems that had not been patched with a critical security update. The vulnerability, known as EternalBlue, was originally discovered by the NSA and leaked by the Shadow Brokers hacker group. Microsoft had released a patch to address this vulnerability months before the attack, but many organizations failed to apply it. 

WannaCry spread rapidly across the globe, infecting over 200,000 computers in 150 countries. The attack affected several major organizations, including the NHS (National Health Service) in the UK, causing widespread disruptions to healthcare services. The financial losses were estimated at hundreds of millions of dollars. 

Lesson Learned: Regular patching is essential, especially for critical vulnerabilities that can be exploited by ransomware. Prompt application of security patches is key to preventing widespread damage, especially for organizations that operate in critical industries like healthcare and finance. 

3. NotPetya Ransomware Attack (2017)

The NotPetya attack, which occurred shortly after WannaCry, also exploited the EternalBlue vulnerability in unpatched Windows systems. While it initially appeared to be a ransomware attack, it was later discovered that NotPetya was a highly sophisticated cyberattack designed to cause widespread disruption, rather than to extort money. 

NotPetya impacted several large organizations, including Maersk, the global shipping giant, and Merck, a pharmaceutical company. The attack caused Maersk to shut down its global operations, resulting in an estimated $300 million in losses. Merck also faced significant operational disruptions, with financial losses exceeding $1 billion. 

Lesson Learned: Neglecting patch management can result in attacks that cause major operational disruptions and substantial financial losses. Organizations must prioritize patching and implement disaster recovery plans to quickly recover from cyberattacks. 

4. The SolarWinds Supply Chain Attack (2020)

The SolarWinds attack, one of the most sophisticated and high-profile cyberattacks in recent history, exploited vulnerabilities in the SolarWinds Orion software. While not a direct result of patching neglect, the attack underscores the importance of supply chain security and timely patch management. 

Hackers inserted a backdoor into SolarWinds software updates, which were then distributed to over 18,000 organizations worldwide, including government agencies, Fortune 500 companies, and critical infrastructure entities. Once the backdoor was installed, attackers were able to monitor communications and steal sensitive information. 

Although SolarWinds did issue patches to address the vulnerabilities, many organizations failed to apply them promptly, allowing the attackers to maintain access to sensitive systems for months. 

Lesson Learned: The SolarWinds attack highlights the need for strong patch management practices, not just for in-house systems but also for third-party software. Organizations must ensure they are applying patches for all software—internal and third-party—as soon as they are available to prevent potential supply chain attacks. 

How to Avoid the Cost of Neglecting Patch Management 

To avoid the costly consequences of neglecting patch management, organizations should implement the following best practices: 

1. Automate Patch Management: Use automated patch management tools to ensure that patches are applied promptly and consistently across your entire IT infrastructure. Automation reduces human error and ensures that patches are not overlooked. 
2. Prioritize Critical Vulnerabilities: Not all patches are equal. Prioritize patches that address critical vulnerabilities with known exploits, such as those identified in high-severity CVEs (Common Vulnerabilities and Exposures). Apply these patches immediately to mitigate the risk of a cyberattack. 
3. Regularly Audit Your Systems: Conduct regular audits of your IT environment to ensure all systems and applications are up-to-date. Use vulnerability scanners to identify unpatched systems and track patching progress. 
4. Implement a Patch Management Policy: Establish a clear patch management policy that outlines procedures for patch identification, testing, deployment, and reporting. This policy should be reviewed and updated regularly to keep up with evolving security threats. 
5. Train Your Team: Educate employees about the importance of patch management and cybersecurity best practices. Ensuring that all stakeholders understand their role in the patch management process is crucial for maintaining a secure environment. 

Neglecting patch management is a costly mistake that can lead to devastating breaches, financial losses, and long-term reputational damage. Real-world incidents like the Equifax data breach, WannaCry, and SolarWinds serve as stark reminders of the risks of failing to apply patches in a timely manner. 

By implementing an effective patch management strategy, prioritizing critical patches, and automating the process, organizations can protect themselves from the devastating consequences of unpatched vulnerabilities. The lessons learned from past breaches are clear: patch management is not a task to be taken lightly, but an essential component of a robust cybersecurity strategy. 

Ready to strengthen your patch management practices? Contact us today to learn how our solutions can help you keep your systems secure and up-to-date.