Remote working arrangements – which necessitates the use of multiple devices, servers, networks and communication channels – typically personal and unsecured – have expanded the attack surface and provided the perfect entry for malicious actors to pilfer proprietary information and leverage those assets for ransom, says Justin Loh, Singapore Country Director, Veritas.
His quick overview of ransomware in five minutes:
What is ransomware?
Ransomware is a type of malware designed to deny access to a computer system or data until a ransom is paid—and the results can be devastating. We must ensure businesses are prepared to take on the malicious threats of today as we venture into our shared IT future.
How can businesses proactively protect themselves?
· Create and maintain an organisation-wide data protection strategy, including routine opportunities to assess, test, and iterate the approach alongside key IT stakeholders;
· Ensure employees understand everyday security hygiene, ideally bolstered by comprehensive company educational resources;
· Leverage on proven solutions that provide clarity and visibility across your organisation’s data and dependable, intelligent data protection.
Veritas' four-step checklist
· Protect your IT systems by implementing the necessary personnel training to identify security gaps and investing in the technology such as malware prevention tools and access management systems
· Mitigate the impact of an attack by analysing the scope of infection and responding immediately with remediation tools
· Consistently monitor your IT environment by running antivirus and intrusion detection tools
· Prepare for recovery by using last good backup and activate operational/ procedural deployment to commence resumption of operation
"Ransomware is real, dangerous and here to stay. At the end of 2019, the average downtime from a ransomware attack was 16.2 days. That’s more than two weeks of business downtime that resulted in both financial and reputational losses. As data and operations of more companies become digital, the repercussions of ransomware attacks will only grow," said Loh.
He stressed that organisations to have a unified solution that protects all their data across physical, virtual and cloud environments. "It is also equally important to rehearse the recovery procedures so that the business can operate with predictability during a crisis," he added.
"The best long-term defense is a proactive data protection approach to strengthening IT systems including detection, protection and recovery. At Veritas, we empower our customers with the right solutions and expertise to provide them with a peace of mind and bolster their data resiliency and readiness for the new work realities."
