Cybersecurity threats escalate in the wake of the Russia-Ukraine conflict
The business implications of the devastating conflict in Ukraine will stretch far beyond the region’s borders.
Business leaders around the world will be assessing the potential implications, from supply chains being interrupted to people being at risk.
One of the leading concerns for businesses amid the growing conflict between Russia and Ukraine is a potential increase in cyber threats.
The US Cybersecurity & Infrastructure Security Agency (CISA) has warned that Russia’s invasion of Ukraine has involved a number of cyberattacks, with malware being used against organisations in Ukraine. These attacks, according to the agency, pose a risk of causing disruption to organisations within and beyond the Russia and Ukraine region.
A cyber or IT issue can quickly escalate into a huge business problem, which can have potentially devastating outcomes.
Destructive malware presents a significant threat to the daily operation of an organisation, impacting the availability of vital data and assets.
With an increase in cyberattacks posing a significant threat, organisations of all industries should be on high alert.
As the CISA notes: “Both government agencies and cybersecurity firms are on high alert in preparation for retaliatory attacks in the wake of recent sanctions and market disruptions imposed by the United States and its allies. That means every organisation – large and small should prepare for any disruptive or destructive cyber activity.”
As the crisis in Ukraine escalates, it is vital organisations are equipped with the right people, knowledge, and tools to help mitigate the impact of a cyberattack.
Measures should include ensuring all business-critical software is up to date with the latest security patches, and that any additional security measures are reinforced.
Organisations should also look at preparing their response plan and making sure IT response teams are prepared for a possible breach at any time. The current situation should be closely monitored by an individual within the organisation with cyber crisis management experience so that threat intelligence updates can be identified, and response plans can be adjusted accordingly.
All security measures should be strengthened, including enforcing multi-factor authentication (MFA) and robust password policies across the whole organisation.
Network traffic should be filtered to identify and monitor the traffic going to and from an organisation. Antiviruses should be deployed and updated, and other security software should run regular scans.
Effort should be made to raise awareness within an organisation of the potential increase in risk of cyberattacks and the measure the workforce can take to help keep information, data, systems, and personnel safe.
Bailey Montagu champions the importance of acquiring the right technical and digital talent, which could prove particularly pertinent given the escalating crisis in Ukraine.
