decrypting myths
The priorities that should be covered in every CISO ’ s budget
To be able to succeed in the post COVID-19 era , CISOs will need to reallocate their budgets and begin planning for strategies and offerings to safeguard their organisation .
Adam Gordon , Country Manager ANZ at Varonis , discusses some of the budget priorities for CISOs in 2021 , from ransomware detection technology to remote data security .
020 was a tough year
2 for CISOs around the world – and 2021 will continue to pose new challenges . The rapid introduction of new services to facilitate the transition to remote working has resulted in a phenomenal increase in cyber-risk and its safe to say no CISO has been left with an empty plate of work .
To be able to succeed in the post- COVID-19 era , CISOs will need to reallocate their budgets and begin planning for strategies and offerings to safeguard their organisation . There are four key security challenges that will most likely impact every CISO this year .
Ransomware ’ s reign of terror growing stronger each day
Ransomware attacks are increasing in prevalence – and unfortunately , commercially successful organisations make attractive , high-profile targets for hackers . If a business is doing well , its share price is rising and it ’ s getting media attention , and it ’ s also getting attention from ransomware developers and deployers .
Hackers will likely be able to identify the market analysts who regularly contact its senior executives to inform their analysis . They will most certainly know the names of those executives , and just one carefully crafted spearfishing email could deceive a CFO into downloading ransomware or malware and precipitating untold damage on the business and its reputation .
According to Verizon ’ s 2020 Data Breach Investigations report , ransomware is the number one cyberthreat facing large organisations , and it ’ s growing .
It ’ s well-known that paying the ransom doesn ’ t always solve the problem . Even if it does , it can put the company in breach of the law if it is a US-based company , or the subsidiary of one : specifically , the International Emergency Economic Powers Act ( IEEPA ) or the Trading with the Enemy Act ( TWEA ). www . intelligentciso . com
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