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Lessons Learned From Recent Ransomware Attacks

This week in cybersecurity from the editors at Cybercrime Magazine

Read the Full Story in Spiceworks

Sausalito, Calif. – Apr. 20, 2024

In today’s digital landscape, ransomware attacks pose a significant threat to businesses worldwide, writes Shrav Mehta, founder and CEO of Secureframe.

Cybersecurity Ventures predicts that ransomware attacks will cost victims around $265 billion annually by 2031, with a new attack projected every two seconds.

In the past six months, a string of ransomware attacks in the healthcare, financial, and telecom industries have underscored how important it is for companies to protect their data and maintain customer trust, notes Mehta, who also points out that the average ransomware attack cost last year exceeded $5 million, and just the ransomware attack against MGM Resorts International alone resulted in losses of $100 million, including $10 million in direct costs to restore downed IT systems.

The good news, according to Mehta, is that there are lessons you can learn from past ransomware incidents, and steps you can take to get ahead of the next one. His article in Spiceworks dives into four important takeaways that may help organizations achieve airtight security and compliance.

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