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.
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.
Insurance claims being filed by ransomware victims are growing as criminals continue to hit businesses with crypto-locking malware. To avoid these claims, organizations can take a number of proven steps to better protect themselves, says Payal Chakravarty of Coalition.
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.
Publicly traded companies will need to beef up their cybersecurity knowledge since the the U.S. Securities and Exchange Commission is proposing rules and guidelines that would mandate more stringent oversight of cyber risk, says Roger Sels, former vice president of cyber solutions for BlackBerry.
Throughout the pandemic, more organizations have embraced managed service providers, but the same economies of scale that attract customers also make MSPs an increasing target of attackers, says Candid Wüest, vice president of cyber protection research at Acronis.
In his spare time, ransomware expert Allan Liska recently became a certified sommelier. Branching out from his day job as principal intelligence analyst at Recorded Future, Liska says he's found numerous parallels between the deductive tasting process and threat intelligence.
As the Russia-Ukraine war continues, many commentators continue to highlight the lack of Russian cyberattacks. But The Chertoff Group's Chad Sweet says Russian cyberattacks remain fast and furious, although Moscow continues to publicly downplay both the attacks and their relative failure.
The discovery and subsequent exploitation of a critical zero-day vulnerability in Apache's Log4j open-source library has highlighted the importance of code security in today's threat landscape, says Steve Wilson, security chief product officer at Contrast.
The war between Russia and Ukraine isn't an abstract concern for SecurityScorecard CEO Aleksandr Yampolskiy. It's a deeply personal one since Yampolskiy, who is now a U.S. citizen, grew up in Russia and rode the train to Ukraine every summer to visit his grandmother.
Threat watch: The ongoing Russia-Ukraine war continues to pose both direct and indirect risks to enterprise networks, says Michael Baker, vice president and IT CISO of IT services and consulting firm DXC Technology. He also discusses recruiting and retaining new talent.
The public-private Ransomware Task Force last year issued numerous recommendations for battling ransomware, and task force member Marc Rogers of Okta says that while the problem persists, better mechanisms are helping to blunt such criminal activity.
How can companies make their cybersecurity posture more transparent to stakeholders? That's a question being asked by both boards of directors and potential investors, says Stephen Boyer, founder and CTO of BitSight. He discusses the impact of new regulations and guidance from agencies.
Ransomware groups such as Conti are beginning to move away from encrypting systems. Instead, they are stealing data, especially from public companies, and threatening to leak it publicly to extort ransom payments, says cybercrime expert Vitali Kremez, CEO of AdvIntel.
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