efani Rise in ransomware spell end of business-as-usual

Even as the world remains in the grip of a global pandemic that is showing no signs of abating, another threat is vying for the crown of the number one risk to the global economy.

In scenes reminiscent of action thrillers, high-tech criminal organizations are targeting high-value organizations and critical national infrastructure.

Data is being locked away in encrypted formats and criminals are demanding ransoms for millions in exchange for the release of data or, in some cases, the promise to not release sensitive customer and company information such as passwords and ID numbers publicly (in what is known as double extortion attacks).

These ransomware attacks are forcing organizations offline, which can lead to major disruption of an organization and its supply chains. Downtime means organizations are unable to deliver services which could be catastrophic when it affects critical national infrastructure.

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