Held Ransom

With ransomware becoming an increasingly common threat to companies, and an increasingly lucrative line for cybercriminals, organizations need to increase their readiness for such an attack, and the likelihood that they’ll be a target of such an attack.

To assist in evaluation of ransomware, Michael R. Overly and Aaron Tantleff, writing for CFO.com, offer a breakdown of the associated issues and risks, in three categories:

  • Damages and Harm – focusing on the effects of ransomware, including loss of information, corruption of data, time lost, incomplete recovery, and public disclosure
  • The Controlling of Risks – providing recommendations as to organization responses to ransomware, from planning and prevention, to active response in the event of exposure
  • External Insurance – offering advice as to insurance policies to allow for claims in the event of a successful ransomware event.

While ransomware attacks are likely to continue, by identifying key resources, establishing proper responses, and encouraging employee training and awareness, impacts can be minimized.