According to a recent report from Chainalysis, ransomware has been a persistent issue for organizations over the years. However, there has been a significant decline in ransomware payments in 2022, which is attributed to the disruption of major ransomware groups, a decrease in cryptocurrency values, and improved cybersecurity practices. Despite this decline, notable ransomware attacks still occur, and organizations must remain vigilant. Cyber attackers are constantly evolving their tactics, and not all losses may be covered by cyber insurance policies. Therefore, it is crucial for organizations to enhance their ransomware readiness and bolster their cyber resilience by utilizing various tools such as anti-virus/anti-malware, endpoint protection, device management, and customized scripts. It is imperative to learn from past experiences that ignoring ransomware is not an option, and organizations must always be prepared and on guard.
Key Points:
- Ransomware payments declined significantly in 2022
- High-profile ransomware attacks still occur
- Cyber adversaries are often adapting their tactics and techniques
- Cyber insurance policies may not cover all losses
- Organizations need to increase their ransomware preparedness and improve their cyber resilience
- Organizations must stay vigilant and prepared