If anyone needed further proof that ransomware is one of the most important digital threats organizations currently face, the recent attacks on Colonial Pipeline; the Washington, DC, police department; Apple; and Ireland's national health service are all glaringly emblematic of the problem.
According to a recent Sophos survey, 51% of responding organizations were hit with ransomware last year, and the increasingly brazen attacks being carried out through ransomware-as-a-service (RaaS) syndicates suggest that the trend is likely to continue — even amid recent government efforts to shut down RaaS infrastructure.
Ransomware is an equal-opportunity attack, and any organization can become a target. Therefore, every company should be preparing for this threat, not only in terms of preventive measures like malware detection, network traffic analysis, data leak prevention, and data backups, but also anticipating the costs they should expect to pay.
As an incident responder, I've lost track of the number of ransomware incidents that I've worked on over the years, but I have found that in most of these cases, companies don't realize all the potential costs they may incur during a ransomware attack.
Here is a list of some of the costs that companies need to prepare for now, before they get attacked:
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