30th August 2017
Steven T. Snyder, Smith Moore Leatherwood LLP
Over the past few months we have written on the emerging threat of ransomware and steps you can take to protect yourself and your company. MSI's South Carolina and Georgia law member Smith Moore Leatherwood LLP provides further information on this subject matter.
One overarching trend is that perpetrators are moving away from “following the money,” where they target financial information or records to sell for gain, and instead have increasingly focused on holding organisations hostage. This explains the attacks on industries that provide time-critical services, such as health care and transportation. While manufacturing might not be the first organization that comes to mind when considering those types of attacks, the extorters are sophisticated enough to realise that disrupting supply chain and processes is a way to leverage a similar threat against manufacturers. With increased sophistication in sourcing, thin margins, and layered dependence of components, any sustained disruption to a supply chain or manufacturing process can be catastrophic to a manufacturer. This type of attack is discussed in the following article: “Take down: Hackers looking to shut down factories for pay.”
If you have not considered ransomware’s potential impact on your organisation, now is the time to do so. Here are some resources to get started:
Protecting your company from ransomware
International transportation systems crippled by “Notpetya” ransomware
Ransomware makes cybersecurity one of your biggest concerns
Why the advent of the ransomworm is a really big deal
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