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A SPECIAL INTEREST SECTION BY MEDIAPLANET
CYBERSECURITY ONLINE EXCLUSIVE
A “Whole-Of-Society” Approach to Combat Ransomware A conversation between the Canadian Chamber of Commerce's Ulrike Bahr-Gedalia and BlackBerry’s Marjorie Dickman.
Staying Ahead of the Hackers: How One Organization is Helping Businesses Secure Themselves Cyber attacks on Canadian businesses are increasing at an alarming rate and costing impacted companies millions of dollars (not to say anything about damage to reputation). That’s the bad news. The good news is a one-ofa-kind Canadian organization is bringing business together to share knowledge of cyber threats and collaborate on mitigation strategies. Ken Donohue
T
he Canadian Cyber Threat Exchange, a not-for-profit organization, is the country’s only cross-sector cyber threat collaboration forum and source of cyber threat intelligence. It provides robust data on threats and vulnerabilities, and access to a network of member organizations. “It’s hard for companies on their own to stay on top of the evolving sophistication of hackers,” says Robert Gordon, the Exchange’s strategic advisor. “They wouldn’t typically have the financial or people resources to be aware of cyber threats and how to mitigate them, but leveraging the experiences and expertise of our community, organizations can easily understand the strategies that are working, the ones that aren’t, and the latest trends.”
Cyber resilience Emerging technologies, including artificial intelligence, are creating huge business advantages. But that same tech is used by cyber attackers, and their level of cleverness is increasing. It’s no longer just phishing emails, hackers are cloning voices, and using other sophisticated means. Technology is also making it easier for small-scale hackers to get involved and scale up the attacks. Gordon urges companies to realize that
it’s not if an attack will happen, but when. Many businesses might not see themselves as having huge stores of data, but hackers aren’t always after the company’s secret sauce, but will steal data or hack into systems and disable them until a ransom is paid. Having a comprehensive approach to cyber security, in which all departments are at the table to discuss risks and determine mitigation strategies is key. “With technology being so accessible, business groups can often bypass IT, but everyone needs to be aware of the risks. It’s a different dialogue that has to happen,” says Gordon. “At the very least, businesses need to know the cyber security basics, but they also need to consider cyber resiliency and have a business continuity plan. Assume a risk will happen and be as prepared as possible, so you can respond quickly.”
the kind of cross-sectoral lens on cyber security. “Cyber threats aren't unique to one sector,” says Jennifer Quaid, the Exchange’s executive director. “Attacks can come through a third-party HR or payment system, and it’s likely those systems are used across sectors.” A cyberattack can be catastrophic for a company, leading to a temporary shutdown or even bankruptcy. In Canada, it’s estimated that the cost of a data breach is more than $5 million. As a highly connected and wealthy country, Canada is a huge target for criminals wanting to take advantage of weak systems. “If we don't focus on cyber security, we’ll continue to be a target and drive emerging technology and research investment out of the country, impacting economic growth,” says Quaid.
As a highly connected and wealthy country, Canada is a huge target for criminals wanting to take advantage of weak systems.
Increasing the aperture of information The exchange is unique in that there is no other organization in North America that has
Learn how you can protect your business by joining the Canadian Cyber Threat Exchange at cctx.ca.
Jennifer Quaid Executive Director, Canadian Cyber Threat Exchange
Robert Gordon, Strategic Advisor, Canadian Cyber Threat Exchange
This article was sponsored by the Canadian Cyber Threat Exchange.
How Safe Are You From the Next Cyberattack? Richard Rogerson
W
ith the average ransomware payment increasing by 82 per cent year-over-year, organizations across Canada are facing what cybersecurity specialists are hailing as “The Ransomware Armageddon.” Combined with the fact that the average downtime after a ransomware attack is over 20 days, proactive cybersecurity has become a top priority for leaders across all industries.
Proactive security: beyond defense Anticipating and addressing threats before a cybercriminal strikes is crucial for effective defense. Reactive measures alone often fall short, exposing companies to operational downtime, financial losses, and reputational damage. By proactively investing in updated Incident Response Plans, Employee Awareness Training, and cybersecurity measures — like Red Teaming exercises–
that go beyond automated vulnerability scans, organizations can empower their teams and maintain competitiveness in a threat landscape where “reputational contagion” means that a single successful ransomware attack can cost billions in reputation-related losses.
Two ways your organization can counteract ransomware attacks 1. Red Teaming is a critical component of any successful cyber program, as it simulates real-world attacks to measure your team’s reaction times, monitoring, and response to cyber threats. In today’s modern cyber threat landscape, the speed with which a team responds means the difference between a “minor” disruption–ranging from hours to days–to major disruptions that can last weeks to months, yielding massive business losses. 2. Dark Web Monitoring, one of the 100% tester-driven services offered by Toron-
to-based penetration testing firm Packetlabs, works to track and contain mentions of your organization on the Dark Web. Monitoring the Dark Web is not just a precautionary measure — it’s a vital defense for protecting your company’s brand, assets, data, associates, and partners. “At Packetlabs, we believe the best defense starts with offense — specifically, looking at your network from a ransomware operator’s perspective in order to understand how they would move throughout your IT systems,” says Richard Rogerson, Founder and CEO of Packetlabs. “Often, organizations rapidly deploy countless technologies and tooling without understanding how effective they are at reducing the likelihood and impact of a breach. When it comes to a ransomware attack, it isn’t a matter of ‘if’ — it’s a matter of ‘when.’ And there is no better counterattack than proactive cybersecurity.”
Download our comprehensive Ransomware Response and Prevention Checklist for more actionable steps towards safeguarding your organization’s most critical assets.
This article was sponsored by Packetlabs.
Publisher: Avery Hall Business Development Manager: Elizabeth Ashfield Country Manager: Nina Theodorlis Production& Delivery Manager Michael Taylor Creative Director: Kylie Armishaw Graphic & Web Designer: Christina Morgan Digital Media Manager: Karm Rathod All images are from Getty Images unless otherwise credited. This section was created by Mediaplanet and did not involve The National Post or its editorial departments. Send all inquiries to ca.editorial@mediaplanet.com.