Research from PwC reveals that more than 6o% of business and technology leaders believe that cyber crime is on the increase and will remain a serious threat to stability and profitability over the next 12 months.
“It’s impossible to ignore the threat from ransomware attacks as criminal groups become more brazen and scale their operations through ‘ransomware as a service’ and the use of affiliate criminal groups.
Ransomware has the potential to rapidly disrupt an organisation’s entire business, across geographies and functions. For organisations without a framework for managing enterprise wide crises there is an acute need to develop and embed one, to be able to respond to this type of disruptive event in a coordinated way.
Whereas other types of crises may be perceived as ‘black swan’ events that can not be predicted, ransomware attacks have become so widespread that we have seen a common set of challenges and decisions that all organisations would face.
Developing – and aligning – ransomware playbooks for executive crisis teams and operational responders is a no-regrets move. And, testing these through wargames and exercises can reduce uncertainty, build confidence in the ability to respond and help prioritise focus on preventative measures.”Bobbie Ramsden-Knowles, Crisis and Resilience Partner, PwC UK
As companies grow, merge and metamorphosise post-pandemic, concerns about managing infrastructures built from multiple vendors’ hardware and software products and dealing with moves to cloud only make things more difficult and many of the people surveyed seemed resigned to being hit at some point. Risk mitigation is key here, and having the right vendor relationships in place to protect your organisation is becoming ever more important.
Source: Retail Technology Innovation Hub
Join Informed Sauce’s ransomware awareness session on 2 December in London. Short talks from the Met Police’s Cyber Crime Unit, Commvault and Infinidat will be followed by a room-wide, moderated open forum discussion on how to combat the scourge of cyber crime and best protect your business.
For details and to sign up, visit the event microsite – https://informedsauce.com/events/infinidat/anatomy-of-a-ransomware-attack