Ransomware Warning

Ransomware Warning

Ransomware AttacksA global attack could cause $200bn in damage – and we’re just not ready

A worldwide cyberattack could cost global economic losses of almost $200bn as organisations across sectors are still unprepared to face the consequences of a malicious global cyber campaign.

WannaCry and NotPetya just scratched the surface of the damage ransomware could do.

These attacks are typically delivered to targets via phishing emails which appear to come from the target’s payroll departments, with the subject of ‘Year-End Bonus’ — a lure of money in what looks like an official message for many employees who are likely click through and follow whatever instructions.

The malware is so potent that once one employee runs the ransomware on their computer, it’s enough to spread the file-locking malware around the network, with a demand of $700 in cryptocurrency on each machine. Around 30 million devices at organisations around the globe are locked in just 24 hours.

The consequences of the attack are catastrophic, with organisations of all sizes in all sectors unable to perform day-to-day operations.

As a result, some organisations opt to pay ransoms — including healthcare companies, due to the need to keep life-saving equipment online. The report suggests its healthcare, retail and manufacturing organisations that would suffer most in such an attack.

Such a catastrophic attack might seem unlikely, but the aim is to show that the global economy is still under-prepared for a massive cyber event and that companies need to act to make sure they’re systems can withstand such a scenario.

Using Ransomware protected backups like Datto, will ease the conscience of many business owners as this provides an essential layer of protection to their cyber security plan.

The changing IT environment can be complicated and a mind field of products. For a proven best of breed industry standard and proven product range for managing these threats, contact our sales team today.

Robert Brown

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