Ransomware attacks growing in number, severity: Why experts believe it will get worse

Law enforcement and federal experts discuss recent ransomware trends and challenges of fighting the attacks.

Ransomware
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Ransomware has become the most chronic and common threat to digital networks. At a time when 41% of all cybersecurity insurance claims flow from ransomware attacks, it’s no surprise that ransomware is top of mind for leading security experts, government officials and law enforcement leaders.

“I think ransomware is going to get worse and I hate to say it, but it’s almost the perfect crime,” Mark Weatherford, chief strategy officer and board member of the non-profit National Cyber Security Center, told attendees at the third annual Hack the Capitol event. “It’s easy to pull off and it’s almost impossible to get caught.”

While major ransomware events grab all the headlines, Weatherford worries about the smaller victims of ransomware attackers. “Small- and medium-sized businesses simply don’t have the resources or the technical acumen to understand the threat environment that they live in,” he said.

Sometimes it can seem like a ransomware attack is inevitable. “A lot of my friends in companies that I talk to on a regular basis literally are waiting for that shoe to drop when they are the victim of a big ransomware event,” Weatherford said.

Ransomware is a big deal and getting worse

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