According to a Gartner report, 60 percent of organizations work with more than 1,000 third parties that connect to their internal systems, and nearly 58 percent of organizations believe they have incurred a vendor-related breach. Many third parties require more access to organization data assets and are increasingly working with their own third parties, further multiplying the size and complexity of the third-party network.
The concept of storing sensitive data in the cloud was once seen as ludicrous. Now, businesses are moving into cloud security at an exponential rate with the promise of larger storage space, lower costs, and improved performance. However, with such great benefits come severe risks.
In Spring 2022, Lincoln College announced that it would permanently close on May 13 and noted that a December 2021 ransomware attack had contributed to its closure.
When most people think about the origin of a cyberattack, the image is that of a hacker using some kind of exploit against software or hardware in order to gain unauthorized access to systems. The hacker is seeking data to exfiltrate and monetize, either through re-sale on the darknet or extortion through ransomware.
On August 4, the Institute for Security and Technology’s (IST) Ransomware Task Force (RTF) announced the release of its Blueprint for Ransomware Defense - a clear, actionable framework for ransomware mitigation, response, and recovery aimed at helping organizations navigate the growing frequency of attacks.