While most people are just starting to hear about RANSOMWARE as a result of the Colonial Pipeline ($4.4m ransom payment), CNA Insurance ($40m ransom payment) and JBS meats crypto attacks (See below – unknown at this time if a ransom has been paid), this nefarious activity has been ongoing for years. So, the short answer to this question is “YES” it can and will get worse for the foreseeable future.

While it may sound simple to just “stop the bad guys,” the unfortunate truth is that stopping ransom attacks is a VERY complicated affair. The organized crime networks behind the sophisticated software platforms utilized to conduct these attacks are primarily located in countries whose governments are belligerent to the US. Think Eastern Europe. However, what makes this situation even worse is that these criminals offer their platforms via the internet and dark web in an anonymous franchise model that is supported by the ubiquity and anonymity of cryptocurrency. So, when will it end? Your guess is as good as ours, but one thing is for sure: it will require a fundamental shift in international politics.

How BW Cyber Services Can Help

While these criminals (and others) are all focused myopically to extort and monetize unauthorized access to your data, there are some relatively simple procedures you can take to help security your environment and lower your risk of a successful attack. BW Cyber Services can help you develop a comprehensive cyber compliance security program to prevent and respond to future attacks which affect your operations. In this effort, we will review cyber insurance to insure you have adequate coverage as well as enhance resiliency processes to minimize interruptions to operations if a ransomware event occurs.

If you have any questions or would like more information, please contact BW Cyber Services at info@bwcyberservices.com.