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The report provides risk mitigation and compromise response intelligence from more than 1,250 data security incidents the firm helped manage responses to in 2020, including ransomware and vendor incidents.<\/em><\/p>\n WASHINGTON \u2013 April 30, 2021<\/strong> \u2013 BakerHostetler<\/strong> released the seventh edition of its annual Data Security Incident Response (DSIR) Report<\/strong><\/a>, which features insights and metrics from the response to more than 1,250 incidents (and their aftermaths) the firm helped clients manage in 2020. The data and analysis in the report \u2013 from security incidents to regulatory enforcement matters, class actions, compliance projects, data governance and advisory matters \u2013 can be used by organizations to identify and quantify likely risks and to develop a prioritized security and compliance road map.<\/p>\n The DSIR Report is produced by BakerHostetler\u2019s Digital Assets and Data Management (DADM) Practice Group<\/a>. This convergence practice addresses enterprise risks, disputes, compliance and opportunities through the life cycle of data, technology, advertising and innovation, including marketing strategies and monetization. The DADM Group\u2019s compromise response intelligence helps clients understand what leads to an incident, how to resolve issues and addresses the potential for regulatory and litigation risks.<\/p>\n \u201cThe pandemic and changing technology trends have disrupted the way organizations operate, and the incident response industry was no exception. Our clients and industry relationships rely on the DSIR Report for access to the metrics and insight across the digital landscape to improve their products\/services and identify measures to enhance their cybersecurity posture and operational resilience,\u201d said Theodore J. Kobus III<\/a>, chair of BakerHostetler\u2019s DADM Practice Group. \u201cEach year we add features based on key issues and trends our team has identified, in order to help organizations, develop solutions to the issues data and technology create. This year\u2019s report includes features on ransomware and cybersecurity supply-chain risks.\u201d<\/p>\n Trends in incident cause and response metrics in 2020 include:<\/p>\n Pandemic\u2019s Impact<\/strong><\/p>\n While infosec professionals were already working on building defenses for technology environments that no longer reside inside a perimeter wall, the COVID-19 pandemic and the resulting WFH mandates heightened the focus on this area of security. The report details a half-dozen consequences of WFH that were evident in the incidents tracked by the firm.<\/p>\n \u201cIn 2020 we saw a continued surge in ransomware as well as an increase in large supply chain matters, further stretching the capacity of the incident response industry,\u201d said Kobus. \u201cOrganizations worked to quickly contain incidents \u2013 despite challenges in simply getting passwords changed and endpoint, detection and response tools deployed to remote workers. Companies with international operations contended with cross-border and regional restrictions on personnel movement. Getting access to facilities to obtain forensic images was a challenge. Necessity, and experience, drove creative solutions.\u201d<\/p>\n Ransomware Rampant and Stats by Industry<\/strong><\/p>\n Ransomware matters remained a menace in 2020, with many threat actors changing tactics and not only encrypting data, but also stealing it. The report details how this gives attackers two pressure points to extract ransoms \u2013 even from companies that can restore systems using a backup. This year\u2019s DSIR Report provides statistics on the average amount of ransomware paid, the largest ransom paid, how often evidence of data exfiltration was present, the timeline on making demand payments and the time lapse from encryption of data to restoration, as well as other statistics. And for the first year, the report breaks ransomware stats down by industry, including healthcare, manufacturing, financial services and hospitality. Also included is a checklist for companies to use during the first day responding to a ransomware matter.<\/p>\n Additional statistics and analysis can be found in the BakerHostetler 2021 Data Security Incident Response Report found here<\/a>.<\/p>\n The DADM Group marshals the strength of seven service delivery teams \u2013 comprising attorneys with technologists and support professionals from the firm\u2019s highly regarded IncuBaker program to help clients navigate the intersection of digital business, emerging technologies and the law. The group was named a 2020-2021 \u201cPacesetter\u201d in Cybersecurity Services by ALM Intelligence Pacesetter Research, an independent research group focused on professional services. BakerHostetler is the only law firm to achieve Pacesetter status. The firm was also one of four law firms named \u201cMarket Leaders\u201d in the report. The group is recognized as a \u201cPowerhouse\u201d by BTI Consulting\u2019s Cybersecurity & Data Privacy 2020 Report and has been named one of BTI\u2019s \u201cCybersavvy 16,\u201d a nationwide list of the top legal practices in this arena.<\/p>\n Recognized as one of the top firms for client service, BakerHostetler is a leading law firm that helps clients around the world address their most complex and critical business and regulatory issues. With six core practice groups \u2013 Business, Digital Assets and Data Management, Intellectual Property, Labor and Employment, Litigation, and Tax \u2013 the firm has nearly 1,000 lawyers located coast to coast. For more information, visit bakerlaw.com<\/a>.<\/p>\n Tags: regulatory issues<\/a>, Digital Business<\/a>, Ransom<\/a>, largest ransom paid<\/a>, Data Management<\/a>, Supply Chain<\/a>, Industry<\/a> <\/p>\n Tags:<\/b> Gabi Valentine The post BakerHostetler 2021 Data Security Incident Response Report \u2013 Disruption and Transformation<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The report provides risk mitigation and compromise response intelligence from more than 1,250 data security incidents the firm helped manage responses to in 2020, including ransomware and vendor incidents. WASHINGTON – April 30, 2021 – BakerHostetler released the seventh edition of its annual Data Security Incident Response (DSIR) Report, which features insights and metrics from […]<\/p>\n The post BakerHostetler 2021 Data Security Incident Response Report – Disruption and Transformation<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n\n
About BakerHostetler<\/strong><\/h5>\n
See Campaign: <\/strong>https:\/\/www.bakerlaw.com\/<\/a>
Contact Information:<\/b>
Gabi Valentine +1.202.861.1582 gvalentine@bakerlaw.com<\/p>\n
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+1.202.861.1582
gvalentine@bakerlaw.com<\/p>\n<\/p>\n<\/div>\n