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ADCG on Privacy & Cybersecurity

98 | The Importance of Digital Asset Inventories in Incident Response

Aug 30, 2023
Ken Westin, a seasoned Field CISO at Panther Labs with over 15 years in cybersecurity, brings invaluable insights into the importance of digital asset inventories. He emphasizes how the lack of these inventories hampers effective incident response, especially following incidents like the MOVEit breach. Ken discusses navigating vulnerabilities in cloud environments, the rise of ransomware, and the need for better asset management. He advocates for collaboration between security and privacy teams to enhance protective measures in an increasingly complex cyber landscape.
29:09

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Quick takeaways

  • The MOVEit breach underscored the urgent necessity for organizations to maintain comprehensive digital asset inventories to ensure effective incident response.
  • Organizations must shift their focus towards monitoring applications and fostering inter-departmental collaboration to enhance their overall cybersecurity posture.

Deep dives

Understanding the MOVEit Breach

MOVEit is an enterprise application crucial for managing secure file transfers among organizations, including various sectors such as Fortune 500 companies, healthcare, and government agencies. The recent breach involved a software supply chain attack where vulnerabilities allowed cybercriminals to exploit the application across multiple organizations. This particular incident was orchestrated by the CLOP group, which transitioned from ransomware to data exfiltration and extortion tactics, raising concerns about potential collusion with Russian authorities. Given the widespread usage of MOVEit, the breach has had significant repercussions, as many organizations were unaware of its presence in their systems or lacked the necessary visibility and logging to identify potential breaches.

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