Navigating the Age of Ransomware with Digital Trust

Head of R&D at DigiCert

Since the pandemic, online interactions have multiplied. The world of today is interconnected, from the quickening of digital change to the hybrid workforce that is here to stay.

We have observed an upsurge in cyberthreats, particularly ransomware, as a result of this exponential development in connection. Ransomware has emerged as the most common kind of assault in the Asia Pacific, according to a few recent surveys. According to a recent survey, ransomware attacks against APAC firms have increased by more than twofold since last year. Digital trust is crucial in light of the increasingly complicated threat landscape.

CIO World Asia spoke with Avesta Hojjati, Head of R&D at DigiCert about companies protecting themselves from ransomware.

Potential impacts of ransomware

Ransomware attacks may have a negative effect on a company’s reputation, expose sensitive information like Personal Identifiable Information (PII), cost money, and result in lengthier downtime owing to longer recovery times. The length of downtime until recovery actually depends on how well-informed attackers are about internal data security measures. As a result, attackers can target a variety of product-specific downtimes that damage customers and end users.

Keeping an eye out for Potential ransomware attacks

By establishing a strong preventative and cyber security posture with industry best practices in mind, businesses can keep an eye out for prospective threats. Businesses must be aware of their current assets, compile a list of outdated and susceptible components, and design a reliable disaster recovery plan in order to do this. Most essential, companies must make investments in their staff to maintain their knowledge current and help the company develop a robust defense against possible ransomware assaults.

Due to the ongoing trend, users are linking their own devices to business networks and there has been a move to hybrid work. Due to the lack of access control, this results in the introduction of external devices that may have been affected by ransomware and may eventually infect the networks of the businesses. Due to the way corporate networks are being accessed in today’s increasingly distributed workforce, businesses must adopt a zero-trust strategy to strengthen their entire security against possible ransomware attacks and other breaches. One strategy for establishing digital trust is a zero-trust policy. Digital trust is achieved when every connected device, server, or document is validated for trust, fulfilling the principle of never-trust, always verify.

Digital trust strategy aiding CSOs in securing their company

In today’s linked world and danger landscape, businesses can only establish, navigate, and flourish with the help of a digital trust strategy. It is essential to the digital transformation since it safeguards the data and assets of the business. A solid plan will allow CSOs to manage all of their security requirements in the interoperability era by utilizing standardized frameworks, competent platforms, and compliant solutions. Additionally, this will guarantee that businesses are able to safeguard the devices, data, and identities of their consumers in various locations. As a consequence, the business environment will become more secure, and the amount of downtime brought on by cyberattacks will decrease.

Technology frameworks that are more complicated and susceptible to cyber danger should incorporate digital trust. CSOs that proactively invest in digital trust are putting their businesses in a position to act as stewards of a connected, safe world. A common and tested method for achieving various digital trust goals is public key infrastructure (PKI) and digital certificates. Unified trust management should be used by businesses to guarantee that they are aware of the location of their digital assets and that the appropriate trust mechanisms, such as digital certificates, are correctly implemented and managed.

How companies can further improve/ prepare themselves for security

Businesses need to take a number of preventative measures to safeguard themselves as digital transformation increases. Businesses must prioritize digital trust as a top organizational priority. This entails ensuring that they are employing authentication, encryption, and integrity and that they are aware of the whereabouts of their trusted digital assets.