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How to Plan for Ransomware in 2018

Originally posted on Rentsys Recovery Services' blog.

 

Heart monitors go off simultaneously. Doctors get error messages when trying to access patient records. Then all the computers in the facility go black. The following message appears in scrolling green text:

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Banks: What If You Made These Common Cybersecurity Mistakes With Cash?

Originally published on Rentsys Recovery Services' blog.

“Data is the new currency” is one of the new slogans of the digital transformation. Modern consumers recognize the value of their data, and 67 percent are willing to share more data with banks in exchange for new benefits. Surprisingly, banks don’t always afford sensitive data the same protections they do for physical currency. While PwC’s 2017 Risk in Review report reveals that the financial services industry has strong cyber risk maturity overall, there are a few common mistakes that could be leaving your institution vulnerable. To give you an idea of the gravity of these errors, think of your cybersecurity practices in terms of cash management and physical security.

Transmitting Unencrypted Data Is Like Sending Unsecured Bulk Cash Shipments

Would you ever transfer a bulk cash shipment to a major customer without using their armored carrier service? Not a chance. You know that that decision would not only be a liability for your institution, but it would also put your customer’s assets at risk and breach their trust.

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Cyber Resilience - Risk Management Evolves

 

The development of modern cloud-based mobile applications has changed much of the IT landscape. New methods of application development (Agile & DevOps) have driven organizational change and brought IT to the forefront of new digital business models. Hyper-connected, massively distributed Cloud applications are also driving changes in traditional IT methods for business continuity and security - two primary functions missioned to manage IT risk.

Protecting information systems and ensuring their availability has been the province of the business continuity management (BCM) function. On the other hand, access control, privacy, and identity management have been handled by IT security. Historically separate, both functions play an important role in managing operational risk.  As cloud and mobile applications evolve several factors suggest the need for a new approach to manage IT risk:

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