On December 6th, 2022, SU launched Taiwan’s first Counter-Ransomware Task Force (CRTF) with Singapore Technologies Engineering Ltd. (ST Engineering), TeamT5, Taiwan Information Security Association (TWISA) and Information and Communication Technology Law Association of the R.O.C to enhance security on the Internet.
Over 70% of Taiwanese companies have fallen victim to ransomware, malware that encrypts or threatens to publish data for ransom, within the past three years, according to recent studies. And CRTF has been created and well-prepared to defend against such threats.
CRTF will offer cybersecurity courses for enterprises to update information security devices and software, providing related intelligence and employee training.
In response to the surging menace, the founder and CEO of TeamT5, Sung-Ting Tsai, also suggested solutions on both technical and managerial levels.
Technology-wise, Tsai recommended that a company isolate, collect information on the attack source, and hire cybersecurity experts to prevent it from spreading. As to the management aspect, enterprises should evaluate the damages, negotiate the amount of ransom (with or without paying the money), and work on public relations to mitigate the impact of such incidents to the corporate image.
Before the founding of CRTF, SU had also proactively provided professional cyber defense training sessions by collaborating with cybersecurity companies and associations, including its previous partnership with Centre for Cybersecurity (CFC-APAC) and Think Cyber.
Since ransomware attack is a global cyber peril, CRTF will cooperate with the government to enhance network resilience, improve banking mechanisms, and crack down on cybercrime, according to SU President Wei-Ta Pan.
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