IVCA member 7Layer Solutions: Protecting Your Firm’s IT Resources and Cybersecurity Readiness

Adams Street Partners Leads $18.3M Series B Funding of Solera Health With Participation by BC BS Venture Partners and Sandbox Industries

June 28, 2017

In light of the recent ‘Wannacry’ ransomware attack that rapidly spread across the Internet infecting both SMB’s and Fortune 100 firms, it is the right time to validate that your firm, and your portfolio companies, are following IT best practices to protect against ransomware. Paying the ransom should not be the course of action if your systems do get compromised.
 
An abundance of operational trust is placed in local IT, and sometimes, only one person.  Portfolio companies are often at a greater risk than the holding firms, as more complex systems are usually involved that can cease operations, if infected. 
 
The following Five Questions should be asked from your local IT (feel free to copy/paste into your own email):
 
·         Is our company data backed up regularly to media that is separate from production data?
·         How frequently are data backups restored to validate functional media and processes are in place?
·         What is our Disaster Recovery/Business Continuity Plan, and how far back can we restore systems to nullify a ransomware ‘lock’ of our systems?
·         How frequently are our servers and computers ‘patched’ with the latest Microsoft security updates and anti-virus updates?
·         Are we pro-actively testing or monitoring for new vulnerabilities that appear on the Internet?
 
I will add a sixth statement
·         Prove it.  All of the five questions above should be answered with corresponding documentation and test results.
 
The stakes are too high to not be prepared.  It is a question of when, not if, some person or a company you know becomes compromised with ransomware. 
 
If you need assistance validating the responses from any of the five questions above, I am happy to assist along with a team member from 7 Layer Solutions.  My cell phone and email are listed below.
 
Kind regards,
 
-Bernie
 
Bernie Barbaric
7Layer Solutions · 10 W. Schaumburg Rd · Schaumburg, IL 60194
Mobile: (312) 636-4785· Email: [email protected]