The first step an information security manager should take upon learning that a competitor has experienced a ransomware attack is to update indicators of compromise in the security systems.
This action helps enhance the organization's defenses by ensuring that security systems are prepared to detect any similar threats that might target the organization.
While performing backups, conducting awareness training, and reviewing risk assessments are important actions, updating indicators of compromise directly addresses the immediate threat landscape and helps protect the organization from potential ransomware attacks.