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August 16, 2024 at 10:06AM
Ransomware attacks are on the rise not due to increased sophistication, but because many large enterprises lack adequate cybersecurity resilience. The lack of ransomware resilience can be attributed to organizations not implementing foundational practices and failing to verify and validate their effectiveness over time. Focusing on recommitting to basic practices, ensuring institutionalization, and measuring and improving effectiveness can enhance ransomware resilience.
From the meeting notes, here are the key takeaways:
1. Ransomware attacks are on the rise due to a lack of resilience to basic cybersecurity practices in many organizations, rather than the attacks being more sophisticated.
2. The lack of resilience is attributed to a failure to implement foundational cybersecurity practices and a lack of active management to ensure the durability of these practices.
3. Three simple actions organizations can take to improve their resilience to ransomware attacks are:
a. Recommit to foundational practices such as implementing two-factor authentication.
b. Ensure foundational practices are “institutionalized” through active implementation, resourcing, enforcement, and measurement of effectiveness over time.
c. Measure and improve the effectiveness of foundational practices by shifting focus from just using frameworks to actively managing performance.
4. Focusing on implementing and maintaining basic cybersecurity practices, such as 2FA, and actively managing cybersecurity performance can significantly improve organizations’ resilience to ransomware attacks.
These takeaways emphasize the need for organizations to prioritize and actively manage foundational cybersecurity practices to better protect themselves against ransomware attacks.