The one thing you can’t find more of is time, and that’s particularly true for IT departments that are already overtaxed and looking for ways to reduce their workload. When your business infrastructure is slow, your productivity suffers, you risk frustrating customers and staff members and there are even a variety of security risks associated with systems that are not kept up-to-date. Scaling a business onsite can be a challenge for biotech firms because the majority of your technical talent is likely focused on innovation, research, and business applications. Strategically managing your workload starts with determining the core competencies of your business. See how scaling your business starts with managing how — and where — your critical business systems are hosted and managed.

Benefits of Outsourced IT Services

When you find a true technology partner, that organization and group of individuals will work hard to make your business successful. With outsourced IT services, you are gaining the insight of dozens of seasoned resources to help solve your tough business challenges. These IT professionals are likely at the top of their field and focus on continual education as a way to add value to their clients. The near-constant state of change that exists in the biotech world requires quick responses to business stimuli, something that is much easier when you have a flexible infrastructure that allows your business to scale seamlessly.

Providing Consistent Service at Reduced Costs

Keeping your costs under control is a consideration for any business, and many organizations find that IT managed services help reduce unexpected costs and maintain greater consistency in budgeting. With IT managed services, you generally write a contract with your partner that defines in great detail the types of services that are offered as part of your monthly charges. This could be anything from infrastructure and networking maintenance, active monitoring of your security posture, usage reporting, Help Desk support, device management and more. These services are often configurable, allowing you to create the ideal structure for your business needs. This is all while maintaining agreed-upon service levels and the expected speed of your network and business applications.

Smooth Growth, Improved Productivity

Slow computers are not something that people are willing to overlook — they can cause vast levels of frustration and dramatically lowered productivity levels within your organization. Downtime is extremely costly in businesses, especially in technology-based businesses such as biotech or pharmaceutical firms. Even an hour of network downtime can cost hundreds of thousands of dollars in lost revenue and productivity. Working with an outsourced IT partner also allows you the ability to improve your operational flexibility by quickly branching new servers or developing new applications.

When you’re ready to expand your business securely and without frustration, contact the professionals at Coretelligent today at 1-855-841-5888 or via email to info@coretelligent.com. Our co-managed IT services are best-in-class, and we provide a high degree of security to each of our clients. Whether you need help with your network infrastructure, backup and disaster recovery or data compliance strategies, you will receive the personalized support that your biotech business deserves.

The thought of a data breach or other type of cyberattack is enough to keep technology and business professionals up at night, especially if you work for a biotech or other healthcare organization. The data that is stored and utilized by your organization on a daily basis is extremely valuable — not just on the dark web, where you would find personal information — but to your competitors. The potential loss of intellectual property could be staggering to a business, and allow competitors to expand their reach or shift the balance of power in your industry. Biotech firms utilize a large number of connected devices, forming a vast web of information that may be lacking in security at its most basic level.

Protecting Your Connected Devices

Just last week, it surfaced that potentially 2 billion connected devices could be at risk due to 11 vulnerabilities that were found in their operating systems. Six of these threats were considered critical, leading to a wave of publicity around the URGENT/11 security flaws that would allow a complete remote takeover of a device. There were three attack scenarios defined, and some of the devices that were affected at an OS level were within firewalls that were created to keep organizations safe. The thought that attackers can strike at the most humble or complex connected device is a sobering one, especially when you consider the vast scale of this set of threats.

Ensuring Data Security and Compliance

Protecting your data both at rest and while it is in motion are two separate requirements, and data compliance with government regulations adds yet another layer of complexity. Cybercriminals are attentive for any opportunity to hijack vital healthcare information, especially if there’s a possibility that this personally or corporately sensitive data could be sold to the highest bidder. Data compliance is yet another cybersecurity risk for biotech firms, due to the sensitive nature of the personal and healthcare-related information that is being captured and accessed throughout the organization. It’s imperative that you continually review access levels to data and stay up-to-date with the latest patches and security measures on your infrastructure to reduce the possibility of an attack.

Data Connections Are A Point of Vulnerability

While gathering data from partner organizations and working directly with third-party vendors is often a part of life for biotech firms, this could be one of the weakest links in your cybersecurity armor. When you share data with another business, you are trusting that they apply the same — or greater — level of security that you employ in your business. If your partner doesn’t complete the simple tasks such as applying patches in a timely manner, there’s a good possibility that your data could be compromised through no fault of your own. Unfortunately, this risk potential will almost certainly cause some loss to your organization, whether you lose data in an IP grab or lose credibility in the eyes of your customers due to a connected breach.

Cybersecurity and risk management are often cited as two of the greatest challenges for healthcare and biotech companies today, as smaller organizations are not always able to keep track of the required governance and compliance data required by the government. The security and technical professionals at Coretelligent have been working with heavily-regulated organizations such as biotech and pharmaceuticals and understand the steep learning curve associated with this type of work. Contact us today at 855-841-5888 or via email to info@coretelligent.com to learn more about how we can address your core challenges.

As the need for security increases in the industry, it’s becoming more important to have the right cyber security partner on your side. If you’re currently looking to protect your business against threats, it’s crucial to find a managed services provider (MSP) that has exactly what your company needs. Here are three things to look for in the right cyber security MSP.

Understands the regulatory environment: Compliance regulations can often be confusing, which is why you need an MSP who works with other firms in your space. It’s not enough to find someone who is a good IT service provider – that doesn’t necessarily mean that they have the experience you’re looking for. Instead, look for an MSP that truly understands the regulatory environment you live in and aligns compliance with your other business objectives.

Full IT lifecycle provider: Because cyber security is overarching and integrated into so many of your systems, you want to have a partner that can support your entire IT ecosystem. Choosing a partner that is a full IT lifecycle provider will ensure that they can provide everything from technical support to projects to strategic road mapping. Utilizing an MSP that can overlay cyber security best practices and services in a holistic way will markedly improve your overall security posture.

Relevant experience: When looking for the right MSP, you don’t want to turn a blind eye to their experience, or lack thereof. It’s important to find a partner that not only has knowledge of the space but also has relevant experience working in that space. What’s more, choose an MSP that doesn’t shy away from sharing specific stories about how they meet their other clients’ compliance and security needs. And if possible, ask for references. This will help you avoid choosing someone who simply “talks the talk” but can’t “walk the walk.”

Discover what Coretelligent’s customized approach to IT can do for you. Start by learning more about our company or speaking with one of our representatives to request your free cyber security health assessment.

This blog is part of a series. Click here to read the other part of this two part series: 3 Things to Avoid in a Cyber Security MSP

Author: Erik Herring, Sales Engineer, Coretelligent

Pharmaceutical companies have been leveraging the power of Big Data for over a decade, utilizing ever more powerful computing devices to make logical leaps and data correlations that would have been impossible in previous years. Having immediate access to this scale of information allows scientists to build more quickly upon the work of others while also providing an improved experience for patients at healthcare locations. There is no question: cloud-based computing is having a dramatic impact on life sciences and pharmaceutical businesses.

Providing Secure and Immediate Access to Crucial Data

Electronic Health Records (EHR) are a standard requirement for organizations offering healthcare to the public and many support businesses besides. Being able to quickly and securely access this information is crucial to success — and an expectation in terms of providing proactive patient care. Visitors to your healthcare facilities are not patient with filling out paper forms and providing the same information multiple times. With the proliferation of local options for healthcare, clinics need this type of access to cloud-based storage and application data in order to be successful.

Pharma Benefits from Flexible, Scalable Cloud Solutions

It’s not unusual for pharmaceutical businesses to store and access petabytes of information on a regular basis — molecular and gene sequencing and results of clinical studies, just to name a few. The pharmaceutical industry has become adept at harnessing the power of the cloud to drive their analyses, hoping to shave time off of the extensive requirements of bringing a new drug to market. Anything that will speed the approximately 10-year review cycle that can cost billions of dollars has the potential to revolutionize the pharmaceutical industry, but there is still a great deal of work to be done before the cloud is fully utilized by these organizations. Turning data into insight is a key requirement for life sciences businesses, which entails tying together disparate software platforms and data sources in a way that provides greater transparency to analysts and scientists alike.

Streamlining Operations and Improving Security

Resource demands can fluctuate based on the stage of any business, and having your infrastructure based in the cloud allows organizations to scale quickly when needed. Providing your business with quick access to consolidated information can help streamline operations by digitizing workflows and creating a more cohesive view of the business. The enhanced focus on platform security, data privacy and compliance requirements demand that life sciences businesses increase their ability to store, secure process and analyze increasingly complex data sets.

Coretelligent has a deep commitment to providing healthcare and life sciences organizations with the secure advanced technology that you need to remain dominant in today’s highly competitive marketplace. See how our proactive technology professionals will work closely with your organization to define your specific needs and create the cohesive solutions that will support the security and compliance needs of your business both now and in the future. Contact us today at 855-841-5888 or fill out our online contact form for a quick response to your requests.

Creating a secure infrastructure is important for any business, but there are special considerations when you’re supporting a wealth management office or other financial institution. Security must be ironclad anytime you’re collecting and storing sensitive client information to be used in your business. A recent study by the Ponemon Institute shows that financial businesses and healthcare organizations are the hardest hit by the wave of recent cyberattacks, as criminals look for ways to mine the rich stores of personal information that can be found within these businesses. From user education to cyber insurance, here are a few of the cybersecurity best practices that you will need to protect your organization.

User Education and Training

Many business professionals are surprised to learn that more than 27% of breaches are caused by human error, which often stems from poor password security or a lack of formalized training. You can reduce the potential of user errors when your firm engages in holistic training that builds staff awareness of the dangers associated with business security and the cybersecurity tactics that will help to avoid them. Cybersecurity threats are changing rapidly, making it crucial that you schedule ongoing training that teaches users how to spot potential threats and the appropriate responses.

Email Security and Encryption

Putting a robust email security platform in place is no longer an option — it’s a necessity. With 90% of malware delivered via an email, users must always be alert to the potential of spoofed or forged emails. Active defense mechanisms may help protect against spam, phishing emails and malicious attachments, but user awareness remains a critical success factor. This includes putting policies in place against placing any sensitive client or personal data such as Social Security numbers, banking codes, account numbers and credit card information into emails.

Protection Against New Threats

Any financial services organization must be ready to quickly pivot to adjust to the changing threat landscape. Your technology partners should be continually scanning the environment to ensure that any weak points are effectively shored up, starting with the implementation of Next Generation Antivirus (NGAV) software. Deploying these aggressive cybersecurity measures can help protect your corporate workstations and servers, as well as provide alerts for any suspicious activities that may occur.

Vendor and 3rd Party Firm Audits

Working with external organizations can be the weak point in your security, especially if their cybersecurity posture is not as aggressive as that adopted by your organization. Ensure that any partners or 3rd party vendors employ a robust arsenal of cybersecurity protections, at least equal to those in your organization. They should also have plans in place for regular review of their security in light of advances in the field.

Cyber Insurance Coverage

A security breach or data loss can be extraordinarily expensive, especially for organizations that capture, store and manage personal financial information. Cyber insurance coverage can help protect your organization in the event of an attack, reducing the overwhelming burden of sanctions, notifications to customers and remediation that can be part of any type of cybersecurity breach.

Formalized Policies, Processes and Workflows

A key part of maintaining an aggressive security posture includes formalizing policies, processes and workflows within your organization. It’s all too easy for training to be forgotten in the bustle of daily work, but formalized policies help keep this important task top of mind. The same is true of high-risk activities such as wire transfer of funds or other financial transactions. It is vital that financial organizations follow best practices for the storage and transmission of account numbers and credit cards or other personally identifiable information such as birth dates and Social Security numbers.

Web Presence and Social Networks

Social media accounts provide a great deal of information for would-be attackers, much more than many individuals realize. Encourage staff members to segregate personal and professional social media activities, and refrain from discussing business or posting information online that could be utilized in the event of a cyberattack.

From user security to protecting your organization from malware and data breach, wealth management offices face unprecedented challenges in today’s complex world of data and integrations. Ensure that your organization is fully protected with aggressive cybersecurity measures as well as active monitoring when you work with the professionals at Coretelligent. Contact us today at 855-841-5888 or visit us online to see how we provide our partners and their clients with an exceptional level of protection against these ever-changing threats.

 

Article Written By: Chris Messer, CTO of Coretelligent

Click here to see Chris present an expert educational session at the Family Office and Private Wealth Management Forum in Newport, RI , July 22-24, 2019.

Your technology department is facing one of the largest hurdles in the past decades: the challenge of protecting your business from cyber attackers. Cybersecurity is one of the top concerns for information technology professionals around the world as enterprises and companies of all sizes fall victim to hackers. Unfortunately, there is no one-size-fits-all solution to cybersecurity, and each business is likely to have unique issues related to their particular infrastructure setup, databases, government compliance requirements and more. Here are a few of the top cybersecurity strategies in use by businesses today that may help your IT department as they defend your organization.

Classify Cybersecurity as an Organizational Risk

The statistics prove that your business being attacked is almost more of a “when” than an “if” — more than 31% of businesses have seen their IT infrastructure attacked according to Cisco. When you classify cybersecurity as a risk to the organization and assign a financial impact to that risk, it’s more likely to raise awareness throughout the organization instead of just within the confines of the technology department. This added interest at the C-suite can help improve your funding for any recommendations, as executives become more fully aware of the astronomical cost of a data breach or other cybersecurity incident.

Be Like Big Brother

The US government has been quite proactive when it comes to protecting against cybersecurity attacks. The Department of Defense recently released their 5 keys to a successful cybersecurity strategy, including:

  1. Create flexible and adaptable processes that include large-scale analytics to help identify attacks and begin remediation while systems are still effective.
  2. Stop harmful cyber activities before they happen by upgrading critical infrastructure systems, setting and enforcing standards and streamlining data storage and information sharing.
  3. Create a cyber-cooperative that allows for proactive partnerships with like-minded organizations, information sharing with other entities and providing opportunities for the user community to identify and fix system vulnerabilities.
  4. Increase cyber awareness through additional training for upper management and all staff, creating new measures of accountability for vendors and contractors and accelerating deployment of cloud-based storage and other services.
  5. Cultivate talent in the workforce by increasing promotion of science, technology, engineering and math and incentivizing individuals with this particular skill set.

While these strategy points were developed for the DOD, they are extremely applicable to any organizations. Finding the right talent to support your current and future cybersecurity needs is crucial, and it’s becoming increasingly difficult to source full-time candidates in this in-demand job field. Organizations are finding that it’s both more cost-effective and workable to contract directly with cybersecurity experts to provide the knowledge and execution necessary to protect your organization against cyberattack.

Prioritize Planning and Resourcing

A lesson learned from the National Institute of Standards and Technology (NIST) is the need to continually improve your cybersecurity posture. That includes continual planning and adequate resourcing for your teams that are working towards the crucial goal of being able to protect your organization from malicious actors. The failure to adequately plan is found to be the root cause in a large percentage of cybersecurity attacks, as organizations struggle to provide the budgeting and resources needed for cybersecurity. There can be a cascade of failures from a single breach, and the impact to the organization can be profound.

While your IT department may not have all the answers when it comes to cybersecurity, it’s good to know that there are solutions professionals available who can talk through your current configuration and resources and make recommendations to help you improve your readiness in the future. The team at Coretelligent works closely with your technology and business leaders to define the level of readiness your business requires. Contact us today at 855-841-5888 or via email to info@coretelligent.com to claim your complimentary initial consultation.

Financial services businesses have a high degree of responsibility to protect the information that is stored and managed by your organization. Ask yourself this: “Can our business function without technology infrastructure or access to customer data and applications”? If the answer is no, then you should immediately begin work on a comprehensive backup and disaster recovery strategy. Even with robust security measures in place, your staff members are one of the most likely sources of data loss or unauthorized access — making it imperative to protect against the eventuality of a fail. Here are four of the top reasons your financial services business needs to put a backup and disaster recovery strategy in place.

1. Outages Are Not Uncommon

Even a single blink in the power supply to your servers could be enough to cause a waterfall of failures that pervades your business. Downtime happens, whether they are caused by a failure in the technology itself, natural phenomena such as fire or excessive flooding or through human error. When internal staff members and customers lose access to their financial information, there’s a waterfall of failures that can wash through the entire organization. From a massive increase in customer service calls to the delays caused by bringing IT staff along to get a fix in place, there are no winners when you’re unprepared for an outage.

2. Reduced Risk of Compliance Issues

Storing personal financial information requires a great deal of care, making it crucial to have a solid backup process in place. Losing even a few moments of transactional data can take days if not weeks to rebuild and causes frustration that ripples through your customer base. Without the adequate support of a trusted technology partner, you might even find that your lack of a backup and disaster recovery strategy can put your business outside the law in terms of compliance.

3. Prevention is Cheaper Than the Cure

Yes, there is a certain cost associated with the business analysis and implementation of a comprehensive backup and disaster recovery strategy, but that cost is minimal when you weigh it against the cost of recovery after an event. Remediation after a data loss requires immediate assistance and may require calling in additional resources that are working at premium rates to quickly help your business recover. When you don’t have a backup and disaster recovery strategy in place, it’s likely that you’ll uncover additional challenges as you seek to rebuild your critical business systems, too.

4. Uncover and Resolve Resourcing and Productivity Challenges

A side benefit of disaster recovery and backup planning is that you are likely to identify inefficiencies in your processes at a time when you’re able to make plans for resolution over time. This thorough review of your business systems can help improve employee productivity and resource utilization throughout your teams, often uncovering disarray or poorly-implemented business rules that are damaging to your operations. Once these situations have been uncovered, you have a bit more time to schedule measured remediation instead of having to rush into an expensive fix after the fact.

Designing a backup and disaster recovery solution starts with access to a knowledgeable technology partner that can help your IT team and leadership think through the necessary business rules and make recommendations that fit your parameters. At Coretelligent, our technicians and project managers have a great deal of experience working with financial services organizations and have a strong understanding of the various challenges that these businesses face. Contact us today at 855-841-5888 or via email to info@coretelligent.com.

Protecting your business from cybercriminals has never been more challenging, and that’s especially true for businesses in the financial services sector. From ATM jackpotting where attacks can be delivered directly to standalone ATM machines via physical attack and a text message to firewall breaches that leak customer information to the public, financial-based business in the US have been under increased attack the past few years. Is your financial services business vulnerable to these cybersecurity threats?

Advanced Identity Theft

While identity theft isn’t a new problem for financial institutions, it is one that is getting more sophisticated over time. Hackers attempt to access your data, but they no longer need every piece of personal information in order to create a synthetic identity. Cybercriminals are using a mix of real and fictitious data to create accounts within your organization for the purposes of accessing credit or loans. Since the customer data is at least partially accurate, lending organizations are spending a significant amount of time attempting to track down the perpetrators and confirming that the charges are indeed fraudulent. Checking these accounts individually is an impossible task, which is why artificial intelligence (AI) solutions are being introduced that will help confirm the validity of new account creation and access.

Refined Social Engineering Attacks

You may be familiar with the term “phishing,” and equate it to easily-ignored emails that are clearly spam. Unfortunately, today’s cybercriminals are creating much more refined attacks, researching specific users on social media and on corporate websites to determine who might be a good target for their attack. The vast majority of social engineering attacks are now highly specific and are aimed at gaining unauthorized access to your systems and information. These attacks no longer come only via email and can be triggered via SMS text messages, social messengers, phone and even printed mail.

Incorrect Cloud-based Server Settings

Today’s server virtualizations can be both simpler and more complex than configuring a server at your physical location. Simpler because scalability can happen in near real-time, but more complex because it’s all too easy to accidentally miss a security setting that leaves your data or applications vulnerable to attack. Having a solid and trusted cybersecurity partner with experience in cloud-based server configuration provides an added peace of mind for your business. If you do accidentally misconfigure a server, you’re in good company: Verizon missed an Amazon S3 storage server security setting in 2017 that exposed customer data for more than 6 million individuals.

Compliance with Data Regulations

Data is one of the most important assets in your business, but are you effectively aggregating this information and presenting it to consumers in a way that’s compliant with government regulations? Aside from the robust GDPR European data access and storage requirements, Vermont and now California have presented similar legislation to protect consumers from unauthorized data access by businesses. Aggregating your data together is not only aggravating for businesses with multiple data storage systems, but it also presents a potential fail point for your security systems. Technology teams must be extremely cautious to ensure that they are not allowing unauthorized users to access personal data and also to confirm the identity of consumers before providing them with the mechanisms to opt out of marketing communications.

There are no easy answers to providing a secure environment in the financial services sector. Fortunately, the technicians and service teams at Coretelligent have a great deal of experience working through some of these security challenges. Contact our cybersecurity professionals today at 855-841-5888 or via email to info@coretelligent.com to learn more about protecting your business operations from the threats that are looming on the horizon.

Protecting your organization is the primary directive for business leaders, and pharmaceutical companies have a lot to be concerned about. The risk from cybercriminals is extensive and growing, with more than 4,000 ransomware attacks happening on a daily basis, according to the FBI. This startling trend is even more frightening when you consider that even organizations as large and sophisticated as Merck & Co. can suffer a global shutdown of operations due to a security breach. See how you can protect your sensitive data and maintain secure operations with advanced cybersecurity countermeasures.

The Cost of Cybercrime

Cybercriminals are responsible for an astounding amount of loss to American businesses, with much of these costs coming in the form of lost productivity, lack of consumer confidence after a breach and the cost of notifying individuals after a breach. Recovering from a cybercrime can be extremely expensive for organizations, especially when you consider the cost of identifying the breach, making any necessary adjustments to your security processes and procedures and then putting safeguards into place to ensure that your data is more secure in the future.

Proactive Data Protection

Client health and financial data is extremely sensitive, and must be treated with the utmost care. With active management, your technology team should be able to quickly identify weaknesses in your processes and procedures — shoring up the support with ongoing training for your team members. When your employees fully understand the scope of the problem around data loss, they are much more likely to abstain from clicking that tempting email. Phishing is a primary attack vector for cybercriminals, as they have seen a great deal of success by creating increasingly complex emails that mimic legitimate correspondence with colleagues and vendors.

Defining a Robust Cybersecurity Posture

While training is a good step, it’s crucial that your technology provider is working with your internal team to actively manage your cybersecurity posture. This could include:

  • Active monitoring of your network activity
  • Spam control at the server level, before emails are delivered to users
  • Proactive backup and recovery procedures
  • Vulnerability assessment
  • Compliance reporting
  • Management of active data as well as data at rest
  • Secure onsite or offsite data storage facilities
  • Endpoint protection, including security for mobile devices and Internet of Things devices

With a pharmaceutical company, there’s the added concern with having intellectual property available that cybercriminals may be able to access. Protecting this lucrative information is a primary consideration for technology teams.

Leveraging Artificial Intelligence

With more pharmaceutical organizations looking for ways to leverage artificial intelligence (AI) in their work, it’s possible this could open additional vulnerabilities for the business. The massive amounts of data that can be mined from patient records and used to simulate results on a broad scale have exciting potentials for AI and machine learning. Unfortunately, the aggregation of this high-value data is likely to tempt cybercriminals to attack pharmaceutical companies on a broader scale than ever before.

Protecting your data may be job one, but it’s probably not the only consideration for your internal teams. At Coretelligent, we work closely with life sciences and other organizations to create a secure infrastructure that will protect your organization — and the data of your key constituents. Contact us today at 855-841-5888 or via email to info@coretelligent.com for more information.

A recent ransomware attack against a Michigan healthcare billing organization reveals what some consider to be one of the biggest cybersecurity threats for health sciences companies to date: vendor partners who are unable to maintain adequate security for their operations. This data breach potentially exposed the personal, health and financial information for over 600,000 residents, according to the Michigan attorney general. Even six months after the attack occurred, the affected organization still can’t say with certainty whether these records were truly compromised. While remediation began immediately, the company and partners are still reeling under the weight of the negative publicity, notification costs and system upgrades required to return to normal business operations. This massive attack illustrates the need for robust and proactive cybersecurity, particularly for organizations who collect and store personal, financial and health-related information.

Dangers of Ransomware Attacks

The cybercriminals attacked Wolverine Solutions Group, the Detroit-based billing sub-contractor, in September 2018 with ransomware with an attack so heavy that it took nearly a month to fully resolve. After several more weeks of working with an external IT investigative team, Wolverine Solutions Group was finally able to restore critical operations — on November 5, 2018. While the data that was under house arrest by the cybercriminals was encrypted, the organization can’t guarantee that the hackers weren’t able to exfiltrate the information for sale. This uncertainty has led to a lack of confidence in the organization and a loss of trust from the Michigan community affected by the ransomware attack.

Importance of Disaster Preparedness

In this particular instance, Wolverine Solutions Group may not have had an adequate backup and disaster recovery process in place. The malicious actors were able to infect their network with malware that effectively seized control of records stored by the company. The cybercriminals were then able to hold the records in an inaccessible state until Wolverine Solutions Group paid the ransom. While it is unclear whether the ransom was ultimately paid, the organization did state that they have since migrated to a different system that ostensibly has greater safeguards in place for the protection of their critical systems and data. With a robust backup and disaster recovery solution in place, the ransomware attack may have been remediated more rapidly — allowing the organization to return to business as usual.

Suggestions to Protect Your Systems

The team at Wolverine Solutions Group specifically noted that they are also training their staff in taking additional precautions, signaling that the attack may have come through one of their workforce members. Ransomware attacks currently cost businesses more than $75 billion per year, a terrifying statistic when you consider that ransomware attacks are projected to hit an organization every 14 seconds by the end of 2019 with the pace expected to accelerate in 2020 and beyond. Cybersecurity experts recommend that you take the following actions to help reduce the risk of malware.

  • Invest in ongoing training for staff members, so they’re able to identify and avoid malware
  • Proactively monitor systems and reporting for unexpected traffic and other cues
  • Maintain a robust, offsite backup and recovery process for data and applications
  • Protect and monitor endpoints
  • Utilize advanced protection software, including malware scrubbers for email and protection for your websites
  • Apply all patches and updates to software in a timely manner

While it’s unlikely that every attack can be prevented, when you’re actively engaged in protecting your organization any attack will be quickly identified. This allows you to get a jump on remediation and can ultimately result in fewer losses for your business. Organizations in the health sciences space such as pharmaceuticals, dental and medical practices and others are at a particular risk for this type of attack due to the perceived high value of the information that’s being stored in their data structures. When you’re ready to review your cybersecurity preparedness, contact the professionals at Coretelligent at 855-841-5888 or via email to info@coretelligent.com.