The Challenge

Ransomware, a sophisticated “digital protection racket,” is no longer just a nuisance; it’s a crippling threat, especially for Small and Medium-sized Enterprises (SMEs). These attacks, where cybercriminals encrypt data and demand payment, can halt operations, damage reputations, and even close businesses, as seen with an Italian SME that ethically refused to pay but faced temporary shutdown.
SMEs often lack the robust cybersecurity of larger firms, making them prime targets. But fighting back individually is tough.

A proposed solution

A united front. Experts argue for a collaborative defense strategy, centred around a shared and constantly evolving Body of Knowledge (BoK). This dynamic resource would pool insights on attack methods, threat actors, and effective defences, empowering everyone.
However, sharing sensitive Cyber Threat Intelligence (CTI) requires trust and compliance, especially with privacy and data protection (i.e., GDPR – Regulation EU 2016/679). This is where innovations like the ReD Service proposed by CyberSocial Lab. in CyberNEMO come in. Using smart contracts on a blockchain and robust pseudonymisation mechanisms, it enables secure, compliant CTI sharing based on explicit consent. This ensures personal data, as well as confidential and sensitive data, remains protected while fostering a collective shield.

Responsible Innovation

Recognised by the European Commission’s Innovation Radar and contributing to UN Sustainable Development Goal 16 (Peace, Justice and Strong Institutions), the ReD Service exemplifies a proactive, collaborative cybersecurity posture – essential for SMEs to navigate today’s complex threat landscape and build resilience.
An extended version of this blog is available at: https://cyberethicslab.com/en/government-data-sharing/

By: CSL