The Cold Reality of Ransomware Attacks: More Than Just a Ransom Payment Ransomware attacks continue to evolve, becoming more sophisticated and harder to prevent—even for well-prepared organizations. A 2024 study of 215 enterprises that experienced ransomware attacks between 2021 and 2023 revealed key takeaways that every IT leader should know. Ransomware Finds a Way In—Even … Read More
Two large hotel and casino chains in the US this week provided a high-profile reminder that ransomware is still very much with us. MGM Resorts, which includes several of the largest hotels in Las Vegas and across the US, was largely shut down due to a ransomware attack, with credit card transactions halted and casino … Read More
By helping their customers protect against ransomware, VCSPs can grow their footprint with existing clients and attract new ones. It’s easy with Object Lock technology.
Ransomware is now the #1 cybersecurity threat, so we recently partnered with an independent research firm on a survey of 200 organizations that had been victims of a ransomware attack to learn about their experiences. You can read the survey report at 2021 Ransomware Victims Report | Cloudian, but here are three key lessons that emerged:
For anyone questioning the threat that ransomware poses, the recent attacks against Kaseya and Colonial Pipeline are a harsh reminder of why ransomware has become the top cybersecurity threat. Unfortunately, traditional defenses such as anti-malware software and anti-phishing training for employees have often proven ineffective, leading organizations to look for better solutions. In a new Gartner report titled “Innovation Insight for Leveraging Isolated Recovery Environments and Immutable Data Vaults to Protect and Recover From Ransomware,” the analyst firm highlights the critical role data immutability technology can play in ransomware protection.
It is not just the responsibility of the IT/IS department to keep the business safe, but the obligation of every CXO and Board member to ask for and implement stringent cyber security measures starting with zero trust, perimeter security, and employee training.
Ransomware attacks increased 150% last year according to Group-IB, a leading cybersecurity solutions provider, a trend that shows no signs of slowing. Given the financial, operational and reputational risk that ransomware poses, boards of directors need to make sure that safeguarding data from an attack is a top priority for the organizations they oversee. I recently made this case in an open letter to board members in Australia that was published in our only national daily newspaper, The Australian, and is reprinted below.
Ransomware attacks dominated the cybersecurity landscape in 2020 and will remain a top threat in 2021, posing major challenges for both public and private institutions. The UK’s National Cyber Security Centre recently reported that it handled more than three times as many ransomware incidents as in the previous year. New variations of attacks are always testing security defenses, including more sophisticated “phishing” schemes — taking advantage of human error or vulnerabilities by duping individuals into clicking a malicious link and thereby enabling ransomware to infect an organization.
