GIGABYTE fell victim to ransomware twice. What can we learn from it?

Taiwanese computer hardware manufacturer GIGABYTE fell victim to ransomware twice in three months. The cost of recovery after a ransomware attack can be 10 to 15 times more than the ransom. What can companies do to better protect themselves?

According to a recent Gartner report, the cost of recovery and the resulting downtime in the aftermath of a ransomware attack, as well as the reputational damage, can be 10 to 15 times more expensive than the ransom.

The stakes are high and therefore, companies want to avoid ransomware at all costs. But are they putting enough effort? GIGABYTE was allegedly hit by ransomware twice in the last three months, and it makes you wonder - have they done enough to secure their environment?

Protecting organizations against these attacks goes beyond endpoint protection and encompasses many different security tools and controls. “Inevitably, ransomware may get past your defenses and the protections put in place. Then it becomes a matter of how quickly you are able to detect the incident,” Gartner claims.

Researchers recommend security and risk management leaders responsible for endpoint and network security focus on all three stages of a ransomware attack:

1. Get ready for ransomware attacks by constructing a pre-incident preparation strategy that includes backup, asset management, and the restriction of user privileges. Determine whether the organization is ultimately prepared to pay a ransom or not.

2. Implement detection measures by deploying behavioral-anomaly-based detection technologies to identify ransomware attacks.

3. Build post-incident response procedures by training staff and scheduling regular drills.

Full article on https://cybernews.com/editorial/gigabyte-fell-victim-to-ransomware-twice-what-can-we-learn-from-it/

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