IDX President and CEO Tom Kelly Addresses the Threat of Russian Cyberattacks Against US Companies

As featured on the Price of Business Show with Kevin Price

As the situation in Ukraine continues to deteriorate and the U.S. and our allies impose sanctions on Russia, the Kremlin is becoming more desperate, and the threat of a major cyberattack against American companies has never been higher.

Tom Kelly, President and CEO of IDX, sat down with Kevin Price, radio host for the Price of Business show, to discuss the implications of a Russian cyberattack on companies and individuals.

Tom pointed out that cyber actors linked to the Russian government have already carried out devastating attacks against the U.S. government and public domains like energy infrastructure. But a potential cyberattack would have just as large an impact on small businesses and individuals because its main objective is to sow confusion and disrupt the entire economy.

Tom endorsed the Cybersecurity and Infrastructure Security Agency (CISA) program Shields Up’s recommendation to U.S. companies – small and large – urging them to invest in their cybersecurity protection in order to mitigate a potential Russian cyberattack.

“If you have certain kinds of products you were planning on deploying, and you haven’t, now is a good time to do it,” Tom said.

Cyberattacks are not just a threat to companies and enterprise networks. Tom noted that practicing good “hygiene” while using digital products and services can also help individuals protect themselves from a cyberattack.

That means using strong password types and changing your password often. “Weak passwords [are] the number one way to get access to your data,” Tom pointed out. It also means being careful about embedded links in emails and on social media platforms, a common attack surface used to deploy malware and phishing attacks. Having an offline storage option to back up your data, such as a hard drive, can also provide an additional layer of security.

“This threat is real, and it’s likely to occur,” Tom warned. “We just hope the cyberattacks, when they do come, will be focused on and moderated in such a way that they don’t cause physical harm to people.”

Cyberattacks have widespread consequences for the U.S. economy, companies and individuals. But the tools you need to protect your business or personal information are available to you. Learn how IDX privacy protection software can help you protect your customers, your employees, and your entire organization.