Strategic measures for thwarting ransomware: Overlooking the application layer is a mistake that should be avoided in the first installment
In the rapidly evolving digital landscape, ransomware continues to dominate cybersecurity news, with a staggering 66% of businesses falling victim to these malicious attacks last year. This makes ransomware the greatest cyber risk businesses face today.
The financial toll of ransomware attacks has been on the rise, with costs increasing by 30% from 2022 to 2023. This upward trend is a clear indication that businesses need to adopt more robust and proactive security measures.
One area that requires immediate attention is the integration of SAP applications into the current ransomware landscape. To mitigate this risk, businesses can leverage advanced security solutions such as Microsoft Defender and Sentinel. These solutions provide automatic threat detection and response specifically tailored for SAP environments, protecting critical business data hosted on cloud or on-premises systems.
In addition, implementing Identity Governance and Administration (IGA) solutions can help enforce separation of duties and comply with regulations, thereby reducing ransomware risks. This approach allows for risk analysis and access control for SAP applications, ensuring that only authorized individuals have access to sensitive data.
Moreover, using hardened backup platforms like the Veeam Software Appliance with immutable storage and zero-trust controls can help protect SAP data by ensuring secure and recoverable backups resistant to ransomware.
However, it's not just about securing the front door of endpoint protection. Threat actors can exploit vulnerabilities in SAP applications, so it's crucial to secure all doors and windows of your cybersecurity. This includes continuous monitoring of SAP applications to avoid vulnerabilities and mitigate the risk of ransomware attacks.
Modernization and digital transformation initiatives have eroded the traditional perimeter, increasing the risk of ransomware attacks. Business-critical applications are increasingly moved to the cloud, connected to third-party services, or made publicly accessible, providing more opportunities for threat actors to infiltrate systems.
Ransomware groups can use unpatched application vulnerabilities as an entry point, bypassing endpoint security measures. Therefore, it's essential to prioritize patch management and keep all applications up-to-date to minimize these risks.
In conclusion, businesses must shift from a reactive mindset to a more proactive approach to combat the growing threat of ransomware. By implementing robust security measures and continuously monitoring their systems, businesses can protect their critical data and minimize the financial and reputational damage caused by these malicious attacks.
