Following the news of the SPAR ransomware attack, cybersecurity experts reacted below.
<p>Ransomware attacks like this no longer come as a huge surprise as cyber security is an increasing threat in every sector, threatening to close stores, limit revenue and compromise data. Businesses do not seem to have a good handle on reducing their attack surface, leading to an increasing number of successful ransomware attacks. </p>
<p>Due to this rise in attacks, it’s imperative that business leaders become aware of the risks and can take the appropriate action to safeguard their business, customers and employees. Businesses are complex and getting even the basic security controls in place and working effectively is hard. The solution? Organisations need to focus on people as a priority and train their staff, to assess their understanding of the threats and test their security controls. </p>
<p>Employees are easy targets and are typically the entry point for ransomware attacks , however you can’t rule out general poor security hygiene (patching and following best practices are crucial), as hackers go after any low hanging fruit they can access.</p>
<p>This incident highlights the impact that ransomware can have on our everyday life. The exponential growth of these types of cyberattacks also has devastating effects on businesses, governments, and public services, with 80% of organisations having been attacked by ransomware in the last two years according to our report. These attacks can be expensive with Mimecast finding that the average ransom payment in the UK is £ 628,606 and 61% of respondents acknowledging that their business had been interrupted by ransomware; reporting six days on average of downtime. Even more concerningly, more than one-third of executives (39%) feel they could lose their jobs over a successful ransomware attack. </p>
<p>The problem is complex, and the risk is rising, meaning all organisations need the strongest possible protections in place. From a people perspective, most security experts agree that end-users remain the weakest link, with email being the number one attack vector, making email security a priority for CISOs. But it’s only one piece of the puzzle. The reality is that the solution to ransomware does not lie with a single technology, entity, or idea. It lies with an integrated set of security controls that support an in depth approach. It lies with the collective power of organisations using every tool at the cybersecurity community’s disposal, from technology and partnerships to intelligence sharing and policy.</p>
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