Ukraine-Russia crisis demands enterprises to boost cybersecurity

Ukraine-Russia-Crisis

The Ukraine-Russia crisis has multi-facet effects beyond the borders of these two neighbouring countries and certainly in the cyberspace that connects the enterprise world via technology and the internet.

From the day, when Russian forces attacked Ukraine, there have been cyberattacks, particularly on critical infrastructure including banks, agencies as well as the Ukrainian government portals and hundreds of computers in the country.

Given this geopolitical complex, unending militarily led Ukraine-Russia crisis, GlobalData recommends that enterprises should strengthen their cybersecurity defences.

“Malicious state-sponsored cyber-activities have historically escalated when geopolitical tensions are high,” says Manish Dixit, Principal Disruptive Tech Analyst – GlobalData.

“Concerns about increased cyber activity amidst the Ukraine-Russia crisis serve as a stark reminder of the importance of identifying the threat model and altering risk management objectives accordingly,” adds Dixit.

It’s not just the malicious state-sponsored cyber activities including cyberattacks that remains the concern. But also the destructive malware such as data-wiping software that has been evident to cause destruction of vital information and data.

“Destructive malware can be a direct threat to a company’s daily operations, posing risk to key assets and data. Every company, regardless of size, must act quickly to secure its information technology infrastructure,” says Pranjali Mujumdar, Disruptive Tech Analyst – GlobalData.

“A robust cybersecurity infrastructure will help companies to identifyand thwartcyberattacks, as well as remain secure throughout the security lifecycle.” adds Mujumdar.

An analysis of GlobalData’s Disruptor Intelligence Center reveals organisations are collaborating with cybersecurity providers to boost the security of their infrastructure and deliver better security services to their customers.

Google to acquire cybersecurity company Mandiant
Google has recently agreed to acquire cybersecurity company Mandiant for approximately $5.4 billion. Mandiant, best known for identifying the infamous SolarWinds hack, will be merged into Google Cloud as the company aims to bolster its cybersecurity solutions in the face of rising cyber threats.

Fortinet collaborates with NGO, industry, public sector companies
Global enterprise and network cybersecurity provider Fortinet is actively collaborating across a global network of NGO, industry, and public sector organisations to secure people, devices, and data.

Through partnerships with the Cyber Threat Alliance and the Joint Cyber Defense Collaborative (JCDC) convened by the US Cyber and Infrastructure Security Agency (CISA).

Finland looks to bolster cyber defence
Finland’s Ministry of the Interior and Ministry of Defense have initiated a project to assess the authorities’ capabilities to maintain national cybersecurity, prevent cybercrime and implement cyber defence. And will respond to highly dynamic conditions that risk society’s cybersecurity.

The project will examine the authorities’ current operational circumstances in serious crises, like the Russia-Ukraine crisis that jeopardizes national cybersecurity, as well as identify key development needs.

“Enterprises must also invest more in information security, with risk management teams aiming for a fine balance of technology, people, and processes to manage risk,” emphasizes Mujumdar.

Both Russia and Ukraine have a high level of expertise in information technology and computer hacking.”Thus, cyberwarfare can not only target big companies or government organisations, but any small business involved in the public sector’s supply chain will also be vulnerable,” concludes Mujumdar.

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