As you can see from watching the news, ransomware trends continue to rise. Security company Carbon Black reported that ransomware sales on the DarkWeb increased 2,502% since 2016. They are suggesting that over $6 Million in Ransomware software was sold between cybercriminals.
These sales are causing massive increases in fraud which the FBI estimates at around 6 Billion in losses, a dramatic increase over the previous year’s $24 Million. Specific case studies like FedEx have claimed a $300M loss in their 4th quarter 2017 financial report from ransomware infections.
Join us to recap the statistics related to ransomware and learn how to prepare for this growing threat. Numerous published best practices will be reviewed to assist our institutions to build stronger defenses. Lessons learned from case studies captured from real world ransomware tragedies will be reflected on. More cases such as WannaCry, NotPetya, and Bad Rabbit will emerge and plague our institutions and members.
Topics Will Include:
In this session we will review the following items to build our understanding of ransomware and how best to defend against it:
- Ransomware Trends
- How infections begin
- Common Strains
- Best Practices
- Lessons Learned
- Regulatory Guidance and Expectations
- Ransom Payment Methods
- Growing Cyber Extortion cases
Who Should Attend?
Information Security Officer, IT Manager, Risk
Officer, Internal Auditor, Board members, or other
management team members looking to understand risks from
Ransomware.
Instructor
Chad Knutson is a Senior Information Security Consultant and serves as President of the SBS Institute for Secure Banking Solutions (SBS) out of Madison, SD. SBS is a leader in information security consulting for the financial industry in the US.
SBS works with more than 900 banks and credit unions around the country on information security services such as the development of Information Security Programs, Policies, and Risk Assessments, along with performing IT Audits, Penetration Tests, Vulnerability Assessment and other security services. Chad is a Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA) and Certified in Risk and Information Security Controls (CRISC), and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance with an emphasis in Banking and Finance Security from Dakota State University.
Chad has been with SBS since 2004 and has consulted with many financial institutions during this time.