IDX President and CEO Tom Kelly Discusses Ukraine, Ransomware and How Businesses Can Respond to Cyber Threats

As featured on the Cyber Policy Institute

Russia’s covert cyberwar in Ukraine and its implications beyond the conflict have made it crucial for businesses to assess their exposure to ransomware attacks and cybercrime. The threat posed by Russia, combined with the last two years of digital transformation, have left most organizations more exposed and more at risk than ever before, with their remote employees presenting some of the worst vulnerabilities.

Tom Kelly, president and CEO of IDX, sat down with Hugh Taylor, founder of the Cyber Policy Institute, to discuss today’s complex cybersecurity landscape and how businesses can better respond to cyber threats.

As Tom pointed out, Russia is one of the largest cyber actors in the world, with successful cyberattacks not just against Ukraine but enterprises in the United States. Those attacks, which range from ransomware attacks to phishing scams, place businesses at far greater risk of a breach than ever.

And in an interconnected economy with overlapping supply chains, even the most innocuous enterprises could find themselves at risk of a cyberattack. As Tom noted, “There are all kinds of reasons for every kind of company either to protect themselves or to understand that they could be part of a broader supply chain that leads to another target.”

But the threat posed by Russian cyberattacks is not the only concern businesses need to address. The digital transformation of our workplaces over the last two years, which includes the transition to remote and hybrid work, has left businesses and their employees vulnerable to attacks.

That’s because, in a remote work environment, the security blanket that covers most enterprise operations does not afford protections to those working at home or in a local coffee shop. And when employees use their personal devices for work, that increases the attack surface that cybercriminals can use to target businesses.

In order to mitigate the risk of a cyberattack, Tom advised businesses to move toward a “zero trust environment” that includes multi-factor authentication for devices, proper password hygiene and investment in a communication and data recovery plan.

Cyber threats have widespread consequences for enterprises and individuals as well. But the tools you need to protect your business or personal information are available to you. See how IDX privacy protection software can help you.

Watch the Cyber Policy Institute Video: Ukraine and Ransomware: A Conversation with IDX’s Tom Kelly