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Government can avoid the ransomware question with strong cyber policy
From: InfoSec News <alerts () infosecnews org>
Date: Fri, 31 Jul 2020 05:57:03 +0000 (UTC)
https://statescoop.com/corye-douglas-avoid-ransomware-question-strong-cyber-policy/ By Corye Douglas STATESCOOP July 30, 2020As the number of coronavirus cases tops 4.4 million in the U.S., the shift to remote work has provided an opportunity for bad actors to more successfully conduct various types of cyberattacks, with ransomware representing one of the most devastating threats.
Unvetted computers and home networks are now relied upon to connect to an organization’s databases and applications. Remote work means fewer restrictions on an organization’s employees. At home, distractions can drive engagement in risky online behavior, such as clicking on links in phishing or spam emails.
The actor behind the Sodinokibi ransomware recently demanded that a Brazilian electrical company pay $14 million, using a special webpage to chat with their victims. The Mexican Ministry of Economy was asked to pay $5 million, while the University of California, San Francisco in June paid $1.14 million in ransom, after negotiating from $3 million.
The average ransom has doubled since 2018, while associated expenses like the loss of work due to downtime and data loss have shown an increase from $46,800 to $283,800, according to one estimate. And with the potential impact on consumer trust when people feel an organization is not capable of protecting their data, there is no question why organizations are paying the ransom: to save their reputations and their finances.
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- Government can avoid the ransomware question with strong cyber policy InfoSec News (Jul 30)