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Ransomware attacks have been on the rise in recent years, with no signs of slowing down. The frequency and sophistication of these attacks have made them a significant threat to businesses and individuals alike. To address this growing concern, a webinar was held on the topic titled "The Rise of Ransomware - Protect, Detect and Respond," featuring Victor Tan, Director of Business Development at Blackpanda, and Lim Quan Heng, Regional Head of Asia at Privasec. The webinar was moderated by Arielle Khor, who is an Evangelist and Business Development manager at Privasec.

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Preparation is key

The experts started the discussion by sharing their insights on the latest trends in ransomware attacks. Lim Quan Heng explored the various tactics used by attackers to gain access to systems, including phishing emails, software vulnerabilities, and remote desktop protocol (RDP) exploits. He also highlighted the importance of having a comprehensive cyber security strategy that includes threat intelligence, vulnerability management, and incident response planning. 

Lim Quan Heng then moved on to discuss the key steps that organisations can take to protect themselves against ransomware attacks. He emphasised the importance of regularly backing up critical data, using multi-factor authentication, and implementing endpoint security solutions. They also recommended conducting regular security assessments to identify and address vulnerabilities in the system.

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When it comes to cyber incident response, time is of the essence

The discussion then turned to the importance of early detection and response to ransomware attacks. Victor Tan emphasised the need for organisations to have a well-defined incident response plan that includes clear communication channels, escalation paths, and recovery procedures. He also highlighted the importance of having a dedicated incident response team with the necessary skills and expertise to handle such situations.

Victor stressed that the best way to achieve prompt and cost-effective incident response, to save money, mitigate the attack, and limit lost data and reputational damage in case of an attack, is to have an incident response retainer with an experienced incident response firm, such as Blackpanda's IR-1 solution. IR-1 is a 12-month contract that provides guaranteed support for incident response, greatly reducing the lead time to respond to a breach. This is important because delays can have a detrimental impact on the outcome of an attack. With a retainer in place, organisations can be assured of quality support without having to go through the lengthy administrative process of engaging an incident response firm on demand.

Blackpanda is a hyper-specialised digital forensics and incident response firm that has launched the R1 special retainer specifically designed for SMEs. The retainer is constructed with SMEs in mind, giving them a fighting chance when faced with a cyber breach. This type of solution is important in the current threat landscape where SMEs are increasingly targeted by cybercriminals.

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In conclusion

The webinar provided valuable insights into the rising threat of ransomware attacks and the steps that organisations can take to protect themselves. The experts highlighted the importance of a comprehensive cyber security strategy that includes threat intelligence, vulnerability management, and incident response planning. They also emphasised the need for a proactive approach to cyber security and the importance of investing in cyber security solutions. By following these guidelines, businesses and individuals can better protect themselves against the growing threat of ransomware attacks.

Blackpanda’s IR-1 subscription is the most effective solution for schools in Asia Pacific facing limited resources and knowledge in managing cyber breaches. IR-1  aims to help them manage cyber breaches and mitigate their impact by offering a 12-month subscription plan that includes 24/7 incident response availability, one incident response activation credit, discounted rates for Blackpanda services, and unlimited access to a digital library. IR-1 is staffed by highly trained specialists, and businesses can renew the subscription upon expiry.

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Get in touch with us to learn more about IR-1.