As the sophistication level of cyber attackers continues to rise, there’s probably not a business on Earth that isn’t at risk. While the day-to-day management of the cyber threat falls to others, as Protiviti’s Jim DeLoach explores, company boards need to have a strong hand here.
A ransomware attack is every organization’s nightmare. Even with concerted efforts to understand and manage the threat, the uncertainty created by must-read headlines of the chaos that high-profile attacks engender is troubling to senior executives and directors alike. Smart leaders know a strategic response is needed. The recent attack confirmed by a cloud solutions provider only serves as yet another reminder that no one is immune.
The Wannacry and NotPetya attacks in 2017 got everyone’s attention as to the potential devastation ransomware incidents leave in their wake. Since then, these attacks have continued unabated against one brand after another, and in 2021, the high-profile Colonial Pipeline and Kaseya attacks once again proved that the perpetrators of these crimes play for keeps. Reputation damage, hefty ransoms, business continuity and uncertainty about data recovery are all concerns. But the core of the conversation is about exposure to loss of intellectual property and customer information and the specter…
