Ransomware attacks can be devastating, and they’re only getting worse.
This form of cybercrime involves hackers breaking into computer networks and locking up digital information until the victim pays for its release. Hospitals crippled by ransomware attacks have been forced to turn away patients, and a natural gas pipeline was forced offline for two days last year.
It has gotten worse. We’ve seen a surge in attacks, more types of organizations targeted and ransom demands up to the tens of millions of dollars. And ransomware gangs are hitting us in ever more visceral ways.
The pandemic made things worse. Companies, schools and other organizations had to accommodate employees working virtually. That created more opportunity for criminals.
Just in the last few months in the United States, ransomware gangs have hit big businesses, schools and universities, local governments, hospitals and the police. And they’re getting more brazen. A relatively new twist is criminals threatening to release organizations’ data publicly if they don’t pay.
What are some of the consequences of ransomware attacks?
Criminals recently targeted a police department in Florida and leaked records including a folder labeled “dead” with photos of bodies from crime scenes.
The worst that I’ve seen happened at the University of Vermont Medical Center. The hospital couldn’t treat some chemotherapy patients because an attack wiped their records. Nurses said it was one of the worst experiences of their careers.
What should be done instead?
There is no silver bullet, but there are some steps that could help. The U.S. government could designate ransomware as a national security threat on par with terrorism, which would funnel more intelligence resources to combat it. Countries that are safe havens for ransomware gangs such as Russia could be subject to sanctions or restrictions on travel to the United States. That would pressure countries to go after ransomware criminals inside their borders.
We could also require that companies and government agencies that are hit by ransomware attacks disclose them publicly. The Treasury Department could consider prohibiting victims from paying ransoms. Most ransomware gangs demand payment in Bitcoin, and it could help trace criminals if banking industry “Know Thy Customer” rules and anti-money-laundering laws were enforced with cryptocurrency exchanges.
This sounds grim!
I don’t want people to feel hopeless. But yes, ransomware and other cyberattacks are only going to get worse. The central problem is America’s lack of urgency and investment to protect digital systems.
Sometimes bad outcomes…
One of the more disturbing outcomes is that research has shown that 92% Who Pay Ransom Demand Don’t Get Their Data Back!
So, in effect, they suffer a double whammy, ‘lose their valuable data’ and ‘lose a whole load of cash’ threatening their very survival.
Click here to view original article at: Don’t Ignore Ransomware. It’s Bad.
