April 24, 2019

Ransomware & Business Email Compromise Webinar

Cyber

2 min read

Ransomware & Business Email Compromise Webinar

On Wednesday, April 17^th Risk Strategies, in partnership with cyber security experts The Crypsis Group, hosted a webinar looking at Ransomware & Business Email Compromise. We were joined on the webinar by Chris Salsberry, a Senior Director at Crypsis, who has over 20 years of digital and forensic investigative experience. There were a few main takeaways from the webinar:

People are the greatest weakness in a company’s cyber defense, with 52% of incidents resulting from employee negligence.
The bad actors aren’t just trying to steal personal identifiable information but are frequently monitoring email correspondence to manipulate invoices and/or to redirect payroll direct deposit to accounts they control.
Ransomware has become prevalent.
Ransomware is more destructive, causing significant downtime and leaving businesses with no choice but to pay.
Ransomware extortion demands are typically in digital currency and in excess of $250K. Qualified forensic investigative firms such as Crypsis have bitcoin wallets and relationships with bitcoin brokers so that companies don’t have to maintain their own bitcoin wallet.
Employee training and multifactor authentication, are vital.
Beyond its financial value, cyber insurance provides immediate access to necessary vendors including forensic firms at significantly discounted rates.

Those are the high points, but we covered a lot more important ground. Below you will find the webinar to learn more.

The contents of this article are for general informational purposes only and Risk Strategies Company makes no representation or warranty of any kind, express or implied, regarding the accuracy or completeness of any information contained herein. Any recommendations contained herein are intended to provide insight based on currently available information for consideration and should be vetted against applicable legal and business needs before application to a specific client.