Spencer Fane attorney Shawn Tuma recently discussed current ransomware trends for a SecureWorld Remote Sessions webcast.
“I cannot think of any other risk that businesses regularly face where the CEO can go to sleep tonight…with the company running well, production operations going—and then wake up tomorrow morning to find they’re completely out of business because of an event that happened overnight, which is possible in a ransomware attack,” Shawn explained.
Shawn provided insight on the common cybersecurity trends, including, the price decrease of ransom demands, the lack of trust in ransomware groups, and how phishing is now the top attack method. He emphasized that when companies do not have viable backups of their data, most will have to pay the ransom as a resolution, and that small businesses are most at risk.
“You want your data, you want access to your networks. And if you don’t have it, you’re willing to pay money to get it back. The hackers figured that out,” Shawn noted.
To listen to the full podcast, please click here.