Ransomware Recovery Gaps, AI Risks, DOL Cybersecurity Guidance, and Intel's Strategic Shift

A recent survey reveals that while 80% of IT leaders express confidence in their recovery strategies post-ransomware attacks, nearly 70% have paid ransoms despite having policies against it. The episode emphasizes the importance of proactive defense strategies, as Tenable's research shows that only 3% of vulnerabilities pose significant risks, urging organizations to prioritize their cybersecurity efforts effectively.Host Dave Sobel also addresses the alarming rise in ransomware incidents, which increased by 33% globally over the past year, with the U.S. and UK experiencing significant spikes. The discussion includes insights into the tactics employed by attackers, such as living-off-the-land techniques that allow them to evade detection. Additionally, the episode highlights the shift in scam operations towards smaller, more targeted schemes, reflecting a trend of increased efficiency and profitability for cybercriminals.The episode further explores the U.S. Department of Labor's expanded cybersecurity guidance for employee benefit plans, emphasizing the fiduciary responsibility to mitigate risks. The new guidelines outline best practices for maintaining cybersecurity programs and conducting risk assessments. Sobel also discusses the launch of a new incident reporting portal by CISA, encouraging organizations to report cyber incidents to enhance community resilience against threats.Finally, the episode delves into the findings of a Washington University study that uncovers significant data privacy risks associated with GPT applications in OpenAI's GPT store. The study reveals that a majority of these applications fail to disclose their data collection practices adequately, raising concerns about user data exposure. Sobel concludes by discussing vulnerabilities in AI platforms, such as Microsoft 365 Copilot, and the need for IT service providers to focus on AI-specific security strategies to ensure compliance and protect sensitive information. Four things to know today00:00 Ransomware Recovery Gaps Expose Overconfidence: Why IT Providers Must Focus on Real-World Incident Testing04:51 CISA’s Incident Reporting Portal and Expanded DOL Guidance: Why IT Providers Must Enhance Cybersecurity Services 08:26 Washington University Study Uncovers Data Privacy Risks in GPT Store10:21 CrowdStrike and Intel Face Critical Moments  Supported by:  https://timezest.com/mspradio/https://www.coreview.com/msp  Pulseway Event:  https://www.pulseway.com/v2/land/webinar-nexus-msp?rfid=vendor/?partnerref=vendor     All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessoftech.bsky.social