Category Archives: ransomware attacks

2021 Manufacturing and Supply Chain Security Roundup

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In 2020, ransomware actors demanded $17 million from a laptop maker and $34 million from a Taiwanese electronics contract company. The past two years have also delivered major disruptions for supply chains. The pandemic pushed supply chain attack issues front-and-center, with disruptions up 67% in 2020 and problems expected to persist as global markets adjust to the ‘new […]

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Ransomware Attackers’ New Tactic: Double Extortion

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Need another reason to defend against ransomware instead of ending up having to find a solution other than paying it? Double extortion may be it. So, what is double extortion? When did it start? With this tactic, ransomware actors steal a victim’s data before their malware strain activates its encryption routine. They then have the […]

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Roundup: Ransomware, the Future of the Cloud and Cyber Careers

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Digital threats can have physical consequences. As we’ve seen this year, the United States government is taking the threat of ransomware seriously. That’s especially the case when it comes to physical infrastructure. If your business ⁠— like many — lives at the intersection of the Internet of Things and the things that make our world […]

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Understanding the Adversary: How Ransomware Attacks Happen

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IBM Security X-Force Incident Response (IR) has responded to hundreds of ransomware incidents across every geography and industry. As we have taken time to analyze these incidents, a clear pattern has emerged. Although we observe dozens of ransomware groups in operation across the globe, many with multiple affiliate groups working under them, most ransomware actors […]

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Proposed Bill Would Require Public Disclosure of Ransomware Payments

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Two U.S. congresswomen introduced a bill that would require ransomware victims to publicly disclose ransom payments to the federal government. Introducing the ‘Ransom Disclosure Act’ In early October, Senator Elizabeth Warren (D-Mass.) and Representative Deborah Ross (D-N.C.) introduced a bill for the Ransom Disclosure Act. Senator Warren said the bill has two main goals. First, […]

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Rising Cyber Insurance Premiums Highlight Importance of Ransomware Prevention

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No insurance premiums saw greater growth in the second quarter of 2021 than those related to cybersecurity. According to the Council of Insurance Agents & Brokers, cyber insurance premiums grew more than a quarter (25.5%) during that period. That’s well above the 17.4% increase witnessed by umbrella insurance and an average of 8.3% growth across […]

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A New Cybersecurity Executive Order Puts the Heat on Critical Infrastructure Suppliers

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Ransomware. Five years ago, the cybersecurity community knew that term well, although among others it was far from dinner table conversation. Times have changed. Since early 2020, ransomware has hit a slew of headlines. People inside and outside of the security industry are talking about it, and many have experienced the ransomware pain firsthand. The […]

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2021 Cyber Resilient Organization Study: Rise of Ransomware Shows the Need for Zero Trust and XDR

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“How many millions did you pay threat actors in a ransomware attack?” “Which investments most significantly improved cyber resiliency for your organization?” “Do you have a cybersecurity incident response plan that’s applied consistently across your enterprise?” The answers to these and other key questions produced several notable findings in the latest 2021 Cyber Resilient Organization […]

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Data Security: How Data Activity Monitoring Protects Against Ransomware

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Ransomware is an attack on your data. Can you say that your approach to preventing ransomware is focused on data? Organizations are becoming more aware of the chaos that ransomware can create — to the tune of $4.62 million in escalation, notification, lost business and response costs, according to the 2021 Cost of a Data […]

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Detections That Can Help You Identify Ransomware

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One of the benefits of being part of a global research-driven incident response firm like X-Force Incidence Response (IR) is that the team has the ability to take a step back and analyze incidents, identifying trends and commonalities that span geographies, industries and affiliations. Leveraging that access and knowledge against the ransomware threat has revealed […]

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