Last week, PC Matic founder and CEO, Rob Cheng joined Liz Callaway on her radio show to discuss all things cyber.
Several regulations have been implemented, or are the midst of implementation, as a result of recent cyber attacks. There are compliance certifications and regulatory measures that organizations must be taking in order to conduct business with government agencies. Hopefully, the federal government drinks some of their own Kool-Aid, and implements these regulations for federal agencies as well. Perhaps that will help the four agencies that almost failed a cybersecurity audit just weeks ago.
with ransomware booming year after year, many companies opted to invest in cybersecurity insurance. Cyber insurance helps cover the cost of restoration post cyber incident. This may include paying the ransom demands, replacing servers, paying for third-party assistance, and more. Unfortunately this safety net may soon end.
The cyber insurance industry is a sinking ship. They’re losing far more money than they are retaining, because of the continuous cyber attacks hitting their clients. It is because of this, that policy renewal is going to be incredibly difficult. The idea of losing that safety net may cause businesses to be more apt to preventing these attacks from the beginning, instead of relying on solutions that help mop up the mess after the infection.
We are halfway through 2021, and to date there have been more ransomware attacks this year than 2020 combined. The threats are increasing in frequency, as well as sophistication. Cyber gangs are reorganizing to maximize their threat potential, and have built infection models that encourage victim extortion. Now is the time to focus on prevention and application whitelisting.
Listen to the full TechTalk segment with Liz Callaway and Rob Cheng below.