SecurityBrief New Zealand - Technology news for CISOs & cybersecurity decision-makers
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Flare's new tool offers innovative ransomware supply chain protection
Thu, 7th Mar 2024

Cybersecurity firm Flare, has launched a new solution, the Supply Chain Ransomware Exposure Monitoring, to help organisations identify and address ransomware threats within their supply chain. The solution, according to Flare, provides exceptional visibility and proactive security across an organisation's supply chain, thereby transforming how firms can manage and counter potential threats that are present within ransomware data breaches.

As per 2023 statistics, Flare’s platform traced over 50 active ransomware groups, and more than 5500 victims, a startling 160% year-over-year increase from 2022. The frequency and intensity of ransomware attacks have increased to such an extent that it is almost a possibility that a member of any organisation’s supply chain could be affected. Current methods to evaluate third-party risk such as security audits and vulnerability scanning do provide a glimpse into the security measures of vendors in a supply chain, however, they often fail to furnish detailed information about the threat exposures present within the context of ransomware data leaks.

Flare's Supply Chain Ransomware Exposure Monitoring solution integrates AI-powered analytics and best-in-class threat intelligence of ransomware groups to identify and respond to threat exposures within minutes of their detection. The solution bolsters conventional third-party risk management and enhances compliance efforts by offering precise and highly contextual information on significant security events occurring in an organisation's supply chain.

Several key features of Flare's new solution include visibility across known and unknown supply chain entities, real-time alerting of ransomware leaks, swift and precise assessment of threat exposures, and contextual intelligence to augment compliance efforts. These collectively offer organisations a holistic overview of their supply chain security, aiding them in rapid identification and response to potential threats.

Citing the increasing concerns regarding ransomware threats for businesses, Mathieu Lavoie, Co-Founder and CTO at Flare remarked, "Flare is introducing a solution aimed at addressing a critical vulnerability - the security of our supply chains. Flare's Supply Chain Ransomware Exposure Monitoring is built on the principle that understanding and mitigating risks requires more than just vigilance; it demands proactive, intelligent strategies. Our solution offers businesses a way to quickly identify and respond to potential ransomware exposures within their supply chain. It's about providing clarity and actionable insights in a complex security landscape, and helping firms to not only manage risk, but to enhance their overall security posture."

According to the company, this latest development from Flare demonstrates its ongoing commitment to providing comprehensive cybersecurity solutions, giving businesses the necessary tools to proactively address potential threats and enhance their overall security.