Anthony Catalano’s Post

This breach is a stark reminder that prioritizing cybersecurity investments is non-negotiable, especially in healthcare where personal data is at stake. We must shift from a reactive "patch it later" mindset to a proactive approach that builds robust defenses from the ground up. #cybersecurity #healthcare #preventionfirst

Underwriters have put in place a number of new provisions designed to prevent ransomware and stem the record number of claims. Among these are a mandate to enforce multi-factor authentication (MFA) across all admin access in a network environment as well as protect all privileged accounts, specifically machine-to-machine connections known as service accounts. #cyberinsurance #ransomwareprotection #itriskmanagement #mfa #dataprotection #informationsecurity https://lnkd.in/g34vjjat

Should you pay the ransom if you've been infected with ransomware? This is a business decision as much as a security decision, because the goal is to get up and running as soon as possible. The downsides of paying the ransom include: no guarantee that the decryptor actually works; increased chance of re-infection in the future; and the fact that you're funding a criminal enterprise. But depending on the state of your backups and the cost of rebuilding damaged systems, it may be the best choice. https://lnkd.in/grc2BFfn

💡 Will #ransomwares be the attack of choice of hackers again in 2024? 📊 According to a recent study, between the second quarter of 2022 and 2023, a 1,100% increase in ransomware incident notifications has been observed. 🔐 All the more reason to surround yourself with industry experts. 🖥 At Sia Partners, we have both specialized consultants in the industry (#banking, #insurance, #transport, #energy) and in #cybersecurity (with a team led by Akram AZZAM). #insurance #cybersecurity #banking Quentin Ramadier Pierre Folk Corentin PARMANTIER

A new law to ban extortion payments won’t immediately halt ransomware attacks, because cybercriminals would certainly test the resolve of victims. But if cybercriminals learned that no matter what they did there would be no payday, they would abandon ransomware as a tactic that no longer yielded results. Changing the laws to force companies to stop paying ransom may sound fantastical, but steps in that direction have already been taken. In November 2023, 40 countries attending the second annual meeting of the International Counter Ransomware Initiative vowed to stop paying cybercrime ransoms. While not having the weight of enforceable laws, a large coalition of nations signaling a willingness to work together on this issue could be the first step towards an enforceable international treaty. Closer to home, several states have passed or are considering passing laws that would make ransomware payments illegal. In April 2023, North Carolina became the first U.S. state to make it illegal for state agencies and local government entities to communicate with ransomware groups or pay a ransom demand. Florida passed a similar law in July 2023, and more laws of this type are being considered in Arizona, Pennsylvania, New York, and Texas. https://lnkd.in/gdJfE8nn