ransomware fraud

We Have All Heard This Story Before It’s no doubt that ransomware is is the biggest threat in the modern cybersecurity landscape. The highest amount of ransom ever paid by a single company for a single incident is $40 million US dollars. Companies can incur millions more in remediation costs, service downtime, legal settlements, higher insurance premiums, and potentially suffer long-term deleterious effects to their brand reputation. Blockchain research group Chainalysis suggests that nearly $700 million USD in ransomware ransom was paid in 2020. Defenders have all been hearing this story for years, and know how to secure against ransomware right? The most common initial access vector is phishing so staff training sessions educating our staff on how to spot a deceptive url is required to keep the bad guys out. Installing endpoint security products and keeping them updated, and of course keep bulletproof backups right? Well, yes and no….

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