This post was written with contributions from Andrew Gorecki, Camille Singleton and Charles DeBeck.
May and June bring warm weather, backyard barbecues and, in recent years, an uptick in ransomware attacks. Why?
“It’s possible workers are distracted because the sun is out and kids are out of school,” said Charles DeBeck, a former senior strategic analyst with IBM Security X-Force. Experts like DeBeck monitor attacks to determine if the uptick becomes an established seasonal pattern.
Ransomware is a severe threat, no matter the season. For over three years, ransomware has been the most prevalent cybersecurity attack type, as the IBM Security X-Force Threat Intelligence Index 2022 notes. The average cost of a ransomware breach is $4.62 million, including lost revenue and response expenses, according to the Cost of a Data Breach Report. That sum excludes the ransom itself, which can run into the millions.
While it’s critical to focus on prevention, companies also need to strategize in advance for a possible attack.
“A lot of organizations have response plans, but there’s great variance in the quality of these plans and whether they’ve been properly tested,” said DeBeck. Reacting quickly and decisively to an attack can make a vast difference in how much damage is done.
This year’s Threat Intelligence Index breaks down five critical steps in an effective ransomware response plan. We asked three experts from IBM Security for more details on what preparations should include.
Step One: Checklist of Urgent Action Items
The most effecti ..
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