Coveware recently issued its 2021 Q3 Ransomware blog article, which notes that ransomware attackers are “moving away from big game hunting” and are moving to the middle market. According to the post, “Middle market companies that are not systemically important may not offer up the largest ransoms, but are more cost effective to attack
Coveware
Update: Ransomware—To Pay or Not to Pay
By Linn Foster Freedman on
Posted in New + Now
Three recent events are prompting me to update our previous blog post on the difficult decision of whether to pay or not to pay ransomware following an attack [view related post].
The first event is the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory on October 1, 2020,…
C-Suites: Cybercrime Damages Expected to Reach $6 Trillion by 2021
By Linn Foster Freedman on
Posted in New + Now
According to Cybersecurity Ventures, cybercrime is the fastest growing crime in the U.S., with damages expected to reach $6 trillion globally by 2021. Therefore, it is axiomatic that C-Suites continue to address the risk associated with cybercrime and how cybercrime will affect the business.
Ransomware continues to be one of the biggest risks to company…
Ransomware Attacks More Frequent and Recovery Efforts Extended in 2020
By Linn Foster Freedman on
Posted in Cybersecurity
A new report published by Coveware concludes that companies hit with ransomware attacks spend an average of 16 days recovering from the attack. Think about being offline and unable to do business for 16 business days. It is extremely disruptive and costly. It takes larger organizations longer to recover than smaller ones, and larger organizations…