Finance & Banking , Fraud Management & Cybercrime , Industry Specific

Ransomware: The Costs Beyond Just the Ransom

Veritas' Bhatia and Microsoft's Thomas Offer Advice for Financial Institutions
Jose Thomas, general manager, Enterprise Cloud Solutions, Microsoft Financial Services; Ajay Bhatia, general manager, Digital Compliance and Commerce, Veritas

The toll of a ransomware attack goes far beyond the price of the actual ransom. Ajay Bhatia of Veritas and Jose Thomas of Microsoft share the potential costs and gaps financial enterprises face when it comes to being able to detect, defend and recover from ransomware attacks.

In this video interview with Information Security Media Group, Bhatia and Thomas discuss:

  • The latest ransomware attack trends within the financial industry;
  • Gaps they commonly see in customers' abilities;
  • How Veritas and Microsoft partner to help customers improve detection, defense and recovery.

As general manager for Veritas' Digital Compliance business. Bhatia leads product management, engineering, customer experience and business management for the comprehensive DC portfolio, which includes Enterprise Vault, Enterprise, eDiscovery Platform, Data Insight, Veritas Advanced Supervision, Veritas Advanced eDiscovery, and the newly acquired Globanet line of products, including Merge1. He has more than 22 years of strategy, business operations and product leadership experience in the domains of enterprise and cloud storage across global markets and joined Veritas from Seagate, where he was general manager of the company's global Flash business, responsible for SSD and Flash products across the device and systems business units.

Thomas is the general manager of Enterprise Cloud Sales, Solutions Team Unit at Microsoft. He leads an organization of over 200 technical sales professionals with expertise in Microsoft's enterprise software offerings. Throughout his career, Thomas has been a transformational leader, responsible for complex deal orchestration and building technically strong sales organizations. Under his leadership, the STU is building a culture of tech intensity that translates into thought leadership within the financial services industry. With a focus on industry-specific solutions such as digital payments, machine learning for wealth management and fraud prevention, the team engages with banking, capital markets and insurance customers to work toward measurable business outcomes that are unique to this regulated industry.

About the Author

Tom Field

Tom Field

Senior Vice President, Editorial, ISMG

Field is responsible for all of ISMG's 28 global media properties and its team of journalists. He also helped to develop and lead ISMG's award-winning summit series that has brought together security practitioners and industry influencers from around the world, as well as ISMG's series of exclusive executive roundtables.

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