Cyber-attacks have increased in the wake of the pandemic and the expansion of related remote work. As the attack surfaces grew, so did the potential threats, especially the ransomware program, which involves hijacking files and sites to release information in cryptocurrencies to demand ransom.

According to an Accenture report, ransomware attacks increased globally by 107% last year. This finding is in line with another study recently published by Sophos, which describes in detail that 37% of companies worldwide were victims of this type of fraud in 2021.

A challenge for companies

1. Update your cyber security plans

Lack of updating and adaptation is the first hurdle that needs to be overcome. Traditional cyber incident response plans need to be developed to provide a tailored solution to the current situation. As stated in the statement, not doing so poses a significant risk to the business.

The focus of the solution is on collaboration, Between CISOs, COOs, and other senior management to enable them to develop a consistent plan that sets company-wide priorities to address big picture issues to better prepare for recovery.

This was announced by the CEO of the company’s Cyber ​​Security Federico Tanderter “The key to a successful recovery program is first and foremost the stabilization of the most critical systems and operations. Then focus on the rest of the company. A recent tactic by cyber-attackers involves deleting or destroying backups to make them inaccessible to traditional business continuity plans. Or disaster recovery.

2. Communications

The second challenge is that existing crisis communications lack the transparency and agility to adapt to new cyber challenges. Speed ​​is king when it comes to cybercrime – the difference between early and late action can mean millions of dollars in losses and lost business opportunities.

3. All are exposed, so everyone should know the modality

The third big challenge is that ransom has no boundaries: it affects the enterprise, third-party ecosystems, and many stakeholders in the business. It is no longer possible to think of cyber threats in a way that is confined to business or office machines.. In a virtual context mediated by connections around the world, you need to think about global strategies.

That is, as attack surfaces evolve, crisis response needs to be expanded to address impacts on customers, corporate affiliates, suppliers, third parties, investment portfolios, and M&A targets. The response strategy should also address how you should react when any of these stakeholders are attacked.

Continue reading: