Ransomware attacks are now the fastest growing form of cyberattack on IT and OT infrastructures. 2020 saw a 62% rise in ransomware attacks across all sectors as compared with 2019, and a 500% rise on OT infrastructure as compared with 2018. With cybercriminals shifting their attention away from low value ‘spray and pray’ targeting methods to higher value ‘big game hunting’ approaches aimed at government entities and private enterprises, power grid cybersecurity and engineering teams must prepare now to fight a more ferocious and frequent cyber battle in the year ahead.
Ransomware attacks have a particularly high success rate when they target organisations that deliver time-critical services through mission-critical assets with high-uptime expectations. These organisations may have sensitivities around protecting their reputations, and will certainly have access to large sums of money either directly or through cyber insurance. Ironically, in the past year the total cost of recovery from a ransomware attack was estimated to be on average in the region of $1.4m for organisations that paid out versus $700k for organisations that did not.
News, Views & Resources
MARKET REPORT: Sonicwall. 2021 Cyber Threat Report.
MARKET REPORT: Dragos. Ransomware in ICS Environments.
WHITE PAPER: Splunk. Ransomware 101. Key Ways to Combat Ransomware.
EXECUTIVE REPORT: Trend Micro. Ransomware as a Service.
VIDEO: Waterfall. Top 10 Targeted Ransomware Attacks of 2020. Industrial Security Institute
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