Capt. Roy S. Petty, commanding officer of Navy Cyber Defense Operations Command, observes … [+]
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Cybersecurity is now a war of attrition. Companies face new threats every day, and it is impossible to keep up with the frequency and volume of vulnerabilities that profoundly impact a company’s IT hygiene. Bad actors and nation-states have created a cottage industry for hackers/crackers who indiscriminately attack foreign networks and their critical infrastructure. Recently, the FBI complaints regarding security incidents quadrupled, mainly due to more employees working from home. Based on our own research and in-field cyber assessments, we have seen the costs of ransomware attacks increase to nearly $12 billion, up 74% since 2018. This is particularly evident in healthcare, critical infrastructure, financial services and the public sector. We expect the number of ransomware attacks to grow by an additional 60%, or to nearly $19 billion, in 2020, with the increased number of employees working remotely due to Covid-19.
Unfortunately,…
