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Ransomware threatens cybersecurity globally

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By Mercy Kelani

Organizations do not have the appropriate tools to stop cyberattacks.

Sophos, an IT security company, in its 4th annual “State of Ransomware Report”, stated that ransomware has not ceased to be a cyber threat to organizations. About 66 percent of the globally surveyed organizations affirmed that they were victims of ransomware. Manager of Sophos in West Africa, Jimi Falaiye, stated that cybersecurity is complex and evolving rapidly that many organizations are unable to manage it themselves. He advised that they seek the help of professionals who are capable of providing cybersecurity services to them.

Advances in technologies like cloud computing, AI, APIs, cloud management, big data and interoperability have made it possible to deliver service of cybersecurity. It is believed that cybersecurity-as-a-service will be prominent in helping organizations manage it in the future. It was discovered that majority of organizations lack the appropriate tools needed to curb cyberattacks. This is a global issue as companies require updated security tools alongside experts’ detection and response services to handle attacks. There is a need for a team of skilled analysts to monitor and respond to their environment.

Threats have evolved and become more complex recently.

It is necessary that organizations outsource their cybersecurity to help their staff focus in other series of responsibilities and their major business. Sophos has a Managed Detection and Response (MDR) service that combines machine learning with human analysis for a new innovative approach to reliable security protection. It also ensures the combination of the top-rated endpoint protection a data-driven XDR of Sophos with a team of experts for counteraction and prevention of threats. The MDR is available to all sizes of businesses.

In a recent Active Adversary Report for Business Leaders, released in April, there was an analysis of a data from over 150 Sophos Incident Response (IR) cases. It was then discovered that the major causes of these attacks were compromised credentials and unpatched vulnerabilities. Threats have grown and become more complex in recent times, although there are tools and services designed to eradicate some of the offensive burdens it causes, permitting them to focus on their major business priorities.

Building critical partnerships is necessary for compliance.

Falaiye asserted that Sophos, Nigeria, works in accordance with the policies and regulations guiding cybersecurity solutions provisioning in line with Internationally standards. Transparency requires that providers abide by standardized compliances from third parties. The company works in compliance with the International Standards Organization’s guidelines (ISO) and NDPR which is responsible for regulation of the amount of user data the company is permitted to interface with. With these compliance and enforcement regulations, organizations have been able to develop trust in Sophos.

The company has built significant partnerships with a few government agencies and is still negotiating with some. The aim of the company is to build strategic alliances for standardization of frameworks that will have an impact on businesses and vertical markets. The purpose of investing in these various kinds of partnerships is because they assist in enhancement of industry compliance. For example, Sophos has a customer enabling development of a cybersecurity framework to help the financial sector secure customers and the institutions by themselves properly.

There are available solutions to curb cyberattacks.

To put an end to ransomware in the Nigerian market, Sophos has developed several solutions which include stopping ransomware by Sophos endpoint security. Combination of the industry’s top malware detection and exploit protection together with Extended Detection and Response (XDR) for security of customers is being done by Sophos. Also, powerful AI, with the aid of deep learning and managed threat detection services will safeguard against recent and old threat. Currently, Sophos has 550,000 customers across the globe, in different industries including government, education, services, financial, manufacturing and others.

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