• About
  • Subscribe
  • Contact
Thursday, May 8, 2025
    Login
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
No Result
View All Result
Home Technology Security

Comprehensive security strategy needed to reduce risk

FutureCIO Editors by FutureCIO Editors
July 27, 2021
Photo by Somchai Kongkamsri from Pexels

Photo by Somchai Kongkamsri from Pexels

Ransomware attacks remain among the most dangerous threats to organizations today, according to cybersecurity leader Fortinet. The FortiGuard Labs Global Threat Landscape Report revealed that organizations faced a sevenfold increase in ransomware attacks during the second half of last year as the shift to remote work and education, and rise in supply chain integration created added vulnerabilities.

In Q2 2021, the common trojans and botnets in Hong Kong were the usual suspects that have been around for many years. JS/Cryxos.1952!tr trojan (first found in 2019), Mirai Botnet (first found in 2016) and Gh0st Rat Botnet (first found in 2014) topped the list of virus and botnet detections.

On average, there were more than 750,000 ransomware attacks on organizations in Hong Kong every month, from April to June 2021, with REvil and TrickBot being the most frequently found ransomware. 

The emergence of ransomware as a threat

Ransomware is a type of malware designed to encrypt files or restrict system access until a ransom is paid. The public release of sensitive data may also be threatened. Ransomware threats grew in the last decade with the emergence of ransomware-as-a-service (RaaS).

Today, many bad actors operate as large, distributed businesses, complete with call centres to handle ransom payments. They may target large corporations, high-profile individuals, and critical infrastructure to get the best payouts.

Through malicious software, ransomware makes its way onto devices and networks through infected emails, websites or programs.

FortiGuard Labs’ threat researchers documented a significant trend away from ransomware attacks targeting enterprise devices to ones targeting consumer-grade appliances when organizations began transitioning to a work-from-home (WFH) connection strategy, especially after the COVID-19 outbreak.

The pandemic has accelerated the shift to WFH and remote working, which offers new entry points for ransomware hackers to gain access to corporate networks. Every device that employees use to connect to corporate networks represents a potential risk that cybercriminals can exploit. One of the challenges of relying on decades-old remote desktop technology is that it does not provide any native inspection of the data sent through those connections, nor does it authenticate the users, devices, or applications flowing through it.

“The threat attack surface expanded as more companies required employees to work from home during the pandemic. An automated security fabric platform has become essential for organizations with increasingly complex network environments and a dramatically increasing number of endpoints,” said Cherry Fung, Fortinet’s regional director for Hong Kong, Macau and Mongolia.

“The platform minimizes risk by providing broad visibility and control over the entire potential digital attack surface. Using machine learning, the platform is automated to identify new cyber threats and enable speedy prevention, detection and responses.”

Protect against ransomware

To defend against today's growing and evolving ransomware threat, a broad security strategy applying people, processes, and security controls at each stage of the kill chain is recommended. Organizations in Hong Kong could further secure home offices and remote connections with the right tools from a reputable partner.

Other ransomware countermeasures could include regular backups of critical systems and off-network backup storage. Organizations need to have a ransomware attack response strategy and team in place and to regularly run recovery simulations and build chains of command with distributed authority so critical decisions are made as close to the cyber event as possible. Augmenting threat detection and response systems with artificial intelligence and automation will enable threats to be identified, investigated, and stopped at speed.

Organizations should also move away from a point defence approach to a more comprehensive risk-management framework.

Related:  NetApp advances with multiple innovative portfolio updates
Tags: Fortinetransomware
FutureCIO Editors

FutureCIO Editors

No Result
View All Result

Recent Posts

  • Agentic AI-powered AppSec platform launched for the AI era
  • IDC forecasts GenAI alone will grow at a 59.2% CAGR
  • Dataiku brings new AI capabilities to create and control AI agents
  • Microsoft reveals the rise of a new kind of organisation in the AI era
  • St Luke’s ElderCare enhances data security and user experience with Juniper

Live Poll

Categories

  • Big Data, Analytics & Intelligence
  • Business Applications & Databases
  • Business-IT Alignment
  • Careers
  • Case Studies
  • CISO
  • CISO strategies
  • Cloud, Virtualization, Operating Environments and Middleware
  • Computer, Storage, Networks, Connectivity
  • Corporate Social Responsibility
  • Customer Experience / Engagement
  • Cyber risk management
  • Cyberattacks and data breaches
  • Cybersecurity careers
  • Cybersecurity operations
  • Education
  • Education
  • Finance
  • Finance & Insurance
  • FutureCISO
  • General
  • Governance, Risk and Compliance
  • Government and Public Services
  • Growth Strategies
  • Hospitality & Tourism
  • HR, education and Training
  • Industry Verticals
  • Infrastructure & Platforms
  • Insider threats
  • Latest Stories
  • Logistics & Transportation
  • Management Leadership
  • Manufacturing
  • Media and Telecommunications
  • News Stories
  • Operations
  • Opinion
  • Opinions
  • People
  • Process
  • Remote work
  • Retail & Wholesale
  • Sales & Marketing
  • Security
  • Tactics and Strategies
  • Technology
  • Utilities
  • Videos
  • Vulnerabilities and threats
  • White Papers

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO

Categories

  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Subscribe