Ransomware attacks have increased by 486% over the past two years, and are expected to cost organizations more than $265 billion over the next decade. In the Utilities sector, ransomware is not just disruptive and expensive, it can put critical infrastructure at serious risk.
While no industry is off-limits, the impact of ransomware varies. BitSight and ThirdPartyTrust teamed up to provide this research report that analyzes hundreds of ransomware attacks and specific findings for the Utilities Sector that will help your organization stay ahead.
The research report titled Ransomware In The Utilities Sector is available for free download:
2021 has been dominated by ransomware. Numerous high-profile incidents around the globe have shed light on the damaging impact that ransomware can have on individual organizations and global supply chains.
Large fuel supplier Colonial Pipeline was crippled by a ransomware attack, causing a system wide shutdown affecting nearly the entire U.S. east coast fuel supply for several days. Weeks later, an attack targeting a meat processing plant disrupted food supply. In Europe, a double whammy hit the Irish health system when the Health Service Executive, Ireland’s health care operator, and its Department of Health suffered a ransomware attack forcing a shutdown within the IT infrastructure.
Ransomware: A Global Epidemic
Why is ransomware growing so rapidly? Are incidents actually increasing, or are they just becoming more public? What industries are more affected? This research by BitSight and ThirdPartyTrust contains a number of critical performance indicators that can help security professionals in the utilities sector reduce the risk of becoming a ransomware victim. Get the research report now.
Based on our analysis, we find that certain security program practices may be critical to reduce the likelihood of experiencing a ransomware incident. We also identify which vulnerabilities are closely tied with ransomware campaigns.
The analysis includes:
- Likelihood of ransomware based on overall security performance
- How patching cadence impacts ransomware risk
- Specific vulnerabilities tied to ransomware risk
- Certificate and configuration management tied to ransomware risk
How Can Your Organization Stay Ahead of Ransomware?
Cybersecurity is not a one-and-done effort, but a day-to-day risk management. Cyber hygiene best practices also need to extend to your vendors, partners, suppliers, and any third-party member of your network to prevent phishing, ransomware, and business email compromise.
Cybercriminals are often able to find and attack the least secure business in the supply chain and use that foothold to gradually compromise their partners. Having tools that provide deep insight into the risks and security performance of every member of your supply chain is critical.
ThirdPartyTrust can help by providing a one pane of glass risk dashboard, with end-to-end vendor risk assessment automation for making informed decisions about vendors, and continuously monitoring their security posture.
Let us show you how ThirdPartyTrust can help you control ransomware and other risks across your third party supply chain. Talk to an expert today.
Top Tips to Prevent and Contain Ransomware Attacks
Due to the rash of headline-stealing attacks over the past year, ransomware preparedness has become a board-level issue for most CISOs.
These are the ten tips a CISO has found to be most effective to prevent, detect, contain, and respond to ransomware attacks.
