Ransomware-wielding criminals constantly refine their behavior and tactics to maximize the chance of a payday, and recently they have been implementing fresh strategies for monetizing stolen data, says Steve Rivers at threat intelligence firm Kela.
Unlocking the data generated by ransomware attacks is helping organizations better understand the risks, adopt defensive technologies and prepare for future attacks, says Wade Baker, partner at Cyentia Institute. He discusses new data on how quickly organizations are remediating vulnerabilities.
Four ISMG editors discuss important cybersecurity issues, including how Canada's Desjardins Group settled a data breach lawsuit for $155 million, how Facebook is being sued after allegedly violating patient privacy, and highlights from ISMG's Northeast Summit held in New York this week.
To excel at cybersecurity incident response, start with planning, preparation and, ideally, regular tabletop exercises, say Kevin Li, CISO for MUFG Securities Americas, and Rocco Grillo, managing director of Alvarez & Marsal's Disputes and Investigations Global Cyber Risk Services practice.
Mark Read, head of data breach solutions for TransUnion in the UK, shares insights on the current data breach landscape, including how businesses should respond to a data breach in order to reduce its impact. "The most successful responses often include the offer of a remediation solution," he says.
Modern applications and architectures are permeating more deeply into organizations to transform back-office functions as well as those that directly affect the customer experience, according to Kara Sprague, F5's executive vice president and general manager of application delivery.
The need to secure cloud workloads and environments isn't new, but a surge of funding and attention has come to the sector over the past year. One of the most acclaimed cloud security startups has been Wiz, which in October raised $250 million on a $6 billion valuation.
Ransomware has changed the risk landscape for suppliers and is forcing companies to reconsider their risk relationships, says Kelly White, co-founder and CEO of RiskRecon. He discusses the correlation between cyber hygiene, ransomware and data loss.
The latest edition of the ISMG Security Report investigates the reboot of ransomware group Conti, which supports Russia's invasion of Ukraine. It also discusses why paying ransomware actors is a "business decision" and how to respond to the talent shortage in the financial sector.
"Credential phishing is off the charts," says Tonia Dudley of Cofense. She discusses the challenge for organizations to strike a balance between having the right controls in place to block malicious emails and stopping the business from receiving legitimate emails.
Former ISACA board chair Rob Clyde shares highlights from ISACA's "Supply Chain Security Gaps: A 2022 Global Research Report," in which 25% of respondents say they experienced a supply chain attack last year, and offers recommendations for assessments and testing of software.
When building an insider risk management program, don't start "too large or too quickly," says Randy Trzeciak of Carnegie Mellon University. He says the first step is to protect your organization's critical assets and services and then "build a risk program appropriate to those assets."
Ronald Raether of Troutman Pepper says privacy, data security and information governance departments must collaborate to reduce unauthorized access to systems by criminals and make data operationalization more effective. He also says proper data mapping, governance and classification are critical.
CTO Daniele Catteddu of the Cloud Security Alliance sees significant gaps in how the cybersecurity industry delivers education and training. For example, he says, while organizations are demanding Zero Trust services and guidance on implementation, the industry's offerings do not meet that demand.
The overlying problem in cybersecurity is scale and the complexity that comes from that scale, says Philip Reitinger, president and CEO of the Global Cyber Alliance. He says we need to simplify how we defend ourselves and "give individuals and companies products that meet them where they are."
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