Cyber threats are increasing – are you prepared?

By Sarah Pearce and Ashley Webber of Hunton Andrews Kurth advise how organisations can take an active role in preparing for the worst, and learning from the past.

The threat of cyber-attack is at an all-time high for businesses. The frequency of cyber-attacks continues to increase, both at the state and non-state level, while the nature of the attacks are becoming more intelligent and advanced, aided by the support of AI. Cyber-attacks can take many forms, for example phishing, password attacks, denial of service and, particularly common in recent years, ransomware attacks. Ransomware is a type of malware which prevents a business from accessing systems and data, usually by encrypting the files, resulting in the attacker demanding a ransom in exchange for decryption. While we are seeing increasing activity from legislators, regulators and law enforcement authorities globally to tackle the increasing risk of cyber threat, the first defence a business has is itself. This article explores some of the ways in which businesses can prepare for the threat of a cyber-attack, focusing on organisational measures a business can implement. However, we do not detail the kinds of technical security measures businesses could maintain in this respect.

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