{"id":57843,"date":"2017-09-11T15:29:34","date_gmt":"2017-09-11T20:29:34","guid":{"rendered":"https:\/\/www.pcmatic.com\/blog\/?p=57843"},"modified":"2017-09-11T21:35:55","modified_gmt":"2017-09-12T02:35:55","slug":"ransomware-sec-filings","status":"publish","type":"post","link":"https:\/\/www.pcmatic.com\/blog\/ransomware-sec-filings\/","title":{"rendered":"Companies Acknowledge The Risk of Ransomware in Their SEC Filings"},"content":{"rendered":"<h4>Companies Aware of Ransomware Threats<\/h4>\n<p>Many larger companies are aware of the cyber threats their organizations are facing on a daily basis. \u00a0To be sure the public is also aware of these threats, these companies have chosen to include cyber security disclosures as part of their SEC filings. \u00a0According to the <a href=\"http:\/\/www.dataprotectionreport.com\/2017\/09\/but-the-emails-companies-sec-filings-reflect-ransomware-risks\/\">Data Protection Report<\/a>, the companies who have included ransomware disclosures within their SEC filings include Repsol, IBM, and Concho Resources, and FedEx.<\/p>\n<p>Unlike the other companies, FedEx has recently been the victim of a cyber attack. \u00a0Therefore, the company&#8217;s 10-K report focused on FedEx and one of its subsidiaries being the victims of the global ransomware attacks that took place earlier this year. \u00a0The emphasis was not only on the past attacks, but how the organization is moving forward. \u00a0The report <a href=\"http:\/\/investors.fedex.com\/financial-information\/sec-filings\/default.aspx\">states <\/a>one of the risks the company faces is,<\/p>\n<blockquote><p>&#8220;A significant data breach or other disruption to our technology infrastructure could disrupt our operations and result in the loss of critical confidential information, adversely impacting our reputation, business or results of operations.&#8221;<\/p><\/blockquote>\n<p>FedEx stated they have several plans in place to mitigate the risk of future attacks and\/or breaches. \u00a0However, <a href=\"http:\/\/investors.fedex.com\/financial-information\/sec-filings\/default.aspx\">they concluded the risk assessment with<\/a>,<\/p>\n<blockquote><p>&#8220;While we have significant security processes and initiatives in place, we may be unable to detect or prevent a material breach or disruption in the future.&#8221;<\/p><\/blockquote>\n<h4>What to Can Companies Do?<\/h4>\n<p>FedEx stated they have &#8220;significant processes and initiatives in place&#8221; &#8212; but what does this entail? \u00a0Every organization&#8217;s disaster recovery plan may look a bit different. \u00a0However, there are key pieces every company should be incorporating into their cyber attack prevention plan. \u00a0These include:<\/p>\n<ul>\n<li>Implementing patch management services. \u00a0Many security breaches and malware attacks are caused because of unpatched security gaps in operating systems, programs and\/or software. \u00a0Maintaining these, by keeping them updated can help mitigate the risk of malware and security breach vulnerabilities.<\/li>\n<li>Choose a security solution with<a href=\"http:\/\/www.pcmatic.com\/pro\/whitelist\"> application whitelisting<\/a>\u00a0as its primary method of malware detection. \u00a0This is the most advanced method of malware prevention. \u00a0By preventing malware, you are protecting your data from today&#8217;s cyber threats, including ransomware.<\/li>\n<li>Provide cyber security training to all employees. \u00a0Providing basic cyber security training to all employees mitigates the risk of employees clicking on links or attachments they shouldn&#8217;t. \u00a0Employees with higher level access, or who may be seen as &#8220;targets&#8221;, for example the human resources department, should go through a higher level of cyber security training. \u00a0The more they know, the less likely they are to fall victim. \u00a0Meaning the company and its data remains secure. \u00a0Invest in this.<\/li>\n<\/ul>\n<p>What has your organization done to mitigate the risks of cyber threats? \u00a0Or have they turned a blind eye? \u00a0Comment below!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies Aware of Ransomware Threats Many larger companies are aware of the cyber threats their organizations are facing on a daily basis. \u00a0To be sure the public is also aware of these threats, these companies have chosen to include cyber security disclosures as part of their SEC filings. \u00a0According to the Data Protection Report, the [&hellip;]<\/p>\n","protected":false},"author":54,"featured_media":55106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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