In this episode of The Thoughtful Entrepreneur, your host Josh Elledge speaks with Greg Edwards, CEO of Canauri.
Greg shares the process by which Canauri could protect, detect and stop ransomware caused by cybercriminals. He says their system could recognize it, kill it and isolate the machine running the ransomware attacks. He adds that ransomware happens all the time - every 11 seconds every day on average - hitting a business or government entity in the United States. He explains that what the ransomware does is devastating to businesses because it locks down all files, so the owner can no longer access them - without paying the ransom or paying for the backup in full.
Greg says the majority of vulnerability, about 50% of ransomware, occurs through email. He says that now, the mass majority of malware that gets through is ransomware. He also says that cyber criminals these days are now financially motivated and their mode of payment is in the form of ransomware. Greg provides a few best practices that users can proactively apply to reduce their risk of being attacked: multiple layers of protection, knowing how many assets you have, ensuring network computers are updated with the latest software and security, good password management, multi-factor authentication, advanced antivirus and endpoint detection and response, and security operations centers. He also recommends working with a cybersecurity expert.
Key Points from the Episode:
About Greg Edwards: Greg is the CEO of Canauri (formerly Cryptostopper), a ransomware protection service that automatically detects and stops active ransomware attacks. He has been a technology entrepreneur since 1998 and has founded numerous companies, including Axis Backup, a backup and disaster recovery company for the insurance industry, which he founded a few years before CryptoStopper. He specializes in disaster recovery, cloud computing, and network security, to name a few.
About Canauri: At Canauri, their goal is to make ransomware protection straightforward and successful – that means faster time-to-detection and fewer false positives. In the pursuit of creating advanced next generation systems, companies have overcomplicated their security solutions and excluded tried and true methods. Ransomware protection should be easy to implement and offer more than just defense; it should give you the upper hand.
Canauri gives businesses an advantage over their attackers. By using proven systems which emphasize the essentials, they allow businesses to withstand an attack, even after it’s reached the internal network. Their system of traps and decoys lowers the time-to-discovery and safeguards one of the most critical elements of a business, its data.
02:24 - "It's happening all the time. Every 11 seconds of every day, a ransomware attack hits a business or a government entity in the US. And so what that means for small businesses is that they are a target."
07:00 - "It's all about the multiple layers of protection. And so it starts with what I call 'hygiene.' So good technology hygiene, knowing how many assets you have, how many computers are on your network and they are all patched and up to date with all of the software patches that come out, which on average, there are 60 vulnerabilities per day that are identified in all of the different software packages that we use."
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Links Mentioned in this Episode:
Want to learn more? Check out Canauri’s website at https://www.canauri.com/
Check out Canauri on LinkedIn at https://www.linkedin.com/company/canauri/
Check out Canauri on Youtube at https://www.youtube.com/@Canauri
Check out Greg Edwards on LinkedIn at https://www.linkedin.com/in/gedwardswpd/
Check out Greg Edwards on Twitter at https://twitter.com/WatchPointData
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