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Effective Steps to Mitigate Ransomware Risk

Ransomware is an escalating cyber threat that organizations globally are increasingly grappling with. This malicious software is indiscriminate, targeting any entity that relies heavily on access to critical data, thereby disrupting operations and causing considerable financial losses. And their evolution continues to outpace defensive measures, becoming increasingly sophisticated and pervasive. The potential repercussions of operational disruptions or unauthorized exposure of confidential data due to ransomware are immense. They range from significant revenue loss, reputational damage, contract violations, missed deadlines, unmet customer expectations, and in worst-case scenarios – such as in the healthcare sector – even potential patient care compromises.

Consider the following guidelines to bolster your resilience against ransomware threats, ensuring both preparedness and an effective response.

  • Reinforce proactive measures: Ensure your Incident Response (IR) Plan/Playbooks, and/or Business Continuity Plan/Disaster Recovery Plan are meticulously assessed, updated, and reviewed.
  • Instill cybersecurity culture: Organizations should foster an environment where every employee is aware of and feels accountable for collective security. Encouraging active involvement in the detection and defence against cyber threats is vital.
  • Implement multi-factor authentication: Deploying multi-factor authentication for all access points, including email, remote desktops, and external-facing or cloud-based systems, should be a mandatory requirement for all users.
  • Ensure systems are patched and current: Unaddressed system vulnerabilities provide easy entry points for attackers. Frequently, a quick scan of the internet with readily available tools suffices to identify susceptible systems.
  • Optimize systems design to counter ransomware: Incorporating a technical security strategy designed by experts abreast with the latest cyber threats and trends is crucial. Continual threat intelligence monitoring across open source and the dark web enhances this strategy.
  • Pre-engage your external response team: An effective ransomware response necessitates third-party expertise in areas such as forensic incident response, legal counsel, crisis communications, and ransom negotiation and payment. Arranging these teams in advance is recommended.
Mathan Babu Kasilingam
Chief Information Security Officer
Vodafone Idea Limited

Disclaimer: The views expressed in this feature article are of the author. This is not meant to be an advisory to purchase or invest in products, services or solutions of a particular type or, those promoted and sold by a particular company, their legal subsidiary in India or their channel partners. No warranty or any other liability is either expressed or implied.
Reproduction or Copying in part or whole is not permitted unless approved by author.

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