Decoder with Nilay Patel Never pay the ransom — a cybersecurity CEO explains why
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Oct 27, 2022 Steve Cagle, CEO of Clearwater Compliance, shares his expertise on cybersecurity in the healthcare industry. He reveals the staggering value of patient data on the black market, emphasizing how a single record can sell for much more than a credit card number. The conversation dives into the impact of ransomware attacks and the crucial need for hospitals to invest in robust security measures. Cagle also discusses regulatory challenges and the importance of compliance to safeguard sensitive information in an evolving cyber threat landscape.
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Value of Patient Data
- Patient health records sell for a high price on the dark web due to their rich information.
- This information is valuable for identity theft, insurance fraud, and obtaining prescriptions.
Ransomware in Healthcare
- Ransomware attacks are a huge problem; healthcare providers are most likely to pay ransoms.
- Attackers exploit the critical nature of healthcare operations, leading to patient safety concerns.
Incident Response
- Contain the attack and shut it down as quickly as possible.
- Have incident response exercises and playbooks ready to handle such situations.