May 2021 is proving that the ransomware trend is running ahead nearly unabated. In the US, the Darkside APT group crippled the largest fuel supplier

Evidence-Based Strategies to Lower Your Risk of Becoming a Ransomware Victim

submited by

Style Pass

2021-05-26 20:30:09

May 2021 is proving that the ransomware trend is running ahead nearly unabated. In the US, the Darkside APT group crippled the largest fuel supplier in the northeast, causing a system wide shutdown affecting nearly the entire US east coast’s fuel supply for several days. In Europe, a double whammy hit the Irish health system when the Health Service Executive, Ireland’s health care operator and its Department of Health suffered a ransomware attack forcing a shutdown within its IT infrastructure.

The collateral consequences of ransomware also include cost to insurance companies who underwrite cybersecurity policies. While they conduct diligence in the form of questionnaires and assessment of cybersecurity performance data—BitSight cyber insurance clients underwrite more than half of the global cyber premium—no security ratings provider has conducted a correlation to ransomware study with definitive results. Until now.

While no organization is immune from determined cyber criminals, there are best practices for minimizing the likelihood of being victimized. Chief among them is a relentless focus on core security hygiene - that common practice of ensuring security controls, practice, and people are performing effectively every day. While best practices are widely acknowledged, it’s clear performance excellence is only being achieved by a few leaders.