Defending Against the Rising Threat of Ransomware in the Wake of WannaCry

The recent WannaCry attack that affected 150 countries and hundreds of thousands of victims served as a wake-up call for many about the potential devastation of ransomware – malevolent software that extorts payments from people and organizations after infecting and encrypting their systems. “Whether it’s WannaCry or the whole host of other cybersecurity attacks that we’ve seen in recent times, these kinds of cyber attacks will continue in different scales,” Paul Rosen, a partner at Crowell & Moring, told the Cybersecurity Law Report. Companies and governments are increasingly trying to use information sharing and other collaboration to confront threats like WannaCry, and regulatory agencies such as the SEC have chimed in to emphasize what companies should be doing to mitigate the damage of future attacks. See also “Technology Leader Discusses How to Deal With the Growing Threat of Ransomware” (Jul. 6, 2016); and “Preparing For Ransomware Attacks As Part of the Board’s Fiduciary Duty” (Mar. 8, 2017).

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