Wannacry And Petya Attacks: Consequences, Trends And Tackling Ransomware Threats

Recent global ransomware attacks WannaCry and Petya (also known as NotPetya) show that damage caused to computers and data can also have tangible consequences in the physical world: from paralysing all operations of a company, to causing life-threatening malfunctions of medical equipment. Infecting one computer can be enough to spread the virus across global networks at lightning speed.

Ransomware is on pace to become a USD 1 billion criminal industry; and a competitive and highly innovative one, at that. Staying ahead in a cybersecurity arms race is challenging. Preventive information-security measures and regular back-ups are indispensable, but not by themselves sufficient. To curtail ransomware and other cyberattacks and mitigate their consequences, we recommend implementing a compliance, enforcement, and education framework addressing cybersecurity risks. Also, a ransomware attack is a criminal offence. If you become a victim, consider involving law enforcement