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Michael Bovalino from LogRhythm offers insights for organisations looking to bolster their resilience to ransomware attacks.
Ransomware attacks are on the rise and organisations of all sizes are falling victim. The attacks involve cyber criminals infecting a target’s IT infrastructure, encrypting vital data, and then demanding a ransom payment in exchange for the keys.
Right now, they top the list of concerns for IT security teams around the world and are poised to become even worse during 2022.
Industry research shows there was a staggering 1,318 per cent year-on-year increase in ransomware attacks in the first half of 2021. Interestingly, 94 per cent of the associated malware was delivered by email while 54 per cent of malicious apps impersonated social media platform TikTok.
Very concerning as the research also found that 77 per cent of organisations do not have a cyber security incident response plan, and so clearly there is work to be done. Five key steps that can be taken to ward off ransomware attacks or recover should one occur are:
The threats posed by ransomware are going to continue to increase in the months and years ahead. By having detailed plans in place that cover protective measures and responses, organisations can be best placed to avoid significant fallout.
Michael Bovalino, ANZ country manager at LogRhythm.
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