The need to be prepared, even in elemental ways, is important for being able to navigate in a cyber accident even when new threats continue to emerge, according to experts speaking at the event Cyber INCYTE New York 2019 held by Axis Capital Holdings Inc. on Wednesday.
Still knowing something as simple as who is responsible for cyber security can help an organization be prepared, according to Paul Reilly, head of delivery to Manchester, UK-based NCC Group PLC.
Some organizations are trying to improve their readiness, says Simon Oddy, a partner with BTVK Advisory in New York.
"The whole theme through what we heard on the Baker Tilly cyber solution" are customers who look at what they can do in advance of being aware and asking, "How can we be better prepared," says Mr. Oddy.
Making definitions and coverage parameters clearly is an area that needs attention, Oddy said.
"There is plenty of room to improve training on how business interruptions work, what it does, what it does and how we measure it," says Mr. Oddy.
A new threat now emerging is cryptojacking, According to Stephen Ramey, New York-based director with McLean, Virginia-based The Crypsis Group.
Cryptojacking is "unauthorized use of your computer to my cryptocurrency," says Ramey.
"How many of you know what cryptojacking is ? "Mr. Ramey asked audiences." Do you know if your policy covers it? "
He added cryptojacking is related to ransomware, which also means" accessing someone's system and using it for any purpose other than intended . "
Ransomware is still a prominent threat, according to Jim Prendergast, founder partner of Mullen Coughlin LLC in Wayne, Pennsylvania, who said he" has probably seen more ransomware and variations of ransomware "than any other type of cyberi ncident during the past two years.