Authored by Greg Hughes, CEO, Veritas Technologies LLC
Ransomware is a C-level priority
Ransomware has risen very quickly over the past six months to become the number-one issue CIOs are addressing. The Colonial Pipeline cyberattack in May 2021 that forced the pipeline operators to shut down their operations and froze their IT systems, is only the tip of the iceberg. Many companies and government entities have had near-death experiences related to ransomware. This is a critical topic and existential threat.
A 350-year-old European company was almost bankrupted by a ransomware attack because they had to stop all business operations. This company is older than the United States, it’s been through multiple wars and survived—but ransomware nearly brought it to an end.
Corporate boards are starting to ask, “Is everything protected?” They read the news and wonder whether all their applications and data are protected. The points below outline what executives and boards need to do to make sure their institutions can recover.