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PAE
UK ransomware facts and figures
According to some estimates, the global
number of ransomware attacks in 2021 had hit
over 300 million by the midpoint of the year,
compared to a similar number for the whole of
2020.
While most of these attempts targeted the
USA a significant number were aimed at UK
businesses, charities, schools, hospitals and
other public sector organisations.
Bottom line: the threat of ransomware is
very serious, constant and growing, requiring
every time of organisation to take protective
measures against it.
What is ransomware
Ransomware is a computer programme that
gets into your network and then encrypts files
and data on computers and servers so they
cannot be used without the key.
Once in place, the hacker holds the data
‘hostage’, demanding payment in the form of a
‘ransom’ to release the files using a decryption
key.
Ransomware can happen to anyone and
is widely employed to attack businesses,
universities and healthcare systems. Indeed
during 2020, Duesseldorf University Hospital’s
care systems were disabled hospital by a
ransomware attack, resulting in the death of a
patient died.
Cases of ransomware that emerged in 2021
include Lemonduck, REvil, Trickbot, Dridex,
Conti and Cobalt Strike.
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What damage does ransomware cause?
Unlike other computer viruses that can be
removed or prevented by anti-virus software
after getting on to a computer, the only way
to remove ransomware is to pay the ransom
(usually in Bitcoin or other crypto currency)
and then hope and pray that the hacker sends
you the key to unlock your files.
The impacts of ransomware fall into the
following categories:
Direct cost: lost sales while network systems
are down.
Lost customers: according to Forrester,
38% of companies say they lost customers
following a cybersecurity breach – including
ransomware attacks.
Remediation: the average cost of remediation
following a successful ransomware attack
to UK companies can be up to £1million
according to some sources.
Reputation damage: impossible to measure,
but a publicised ransomware incident affects
potential buyers’ view of a brand, impacting
negatively on their potential to purchase from
that company.
Worst case scenario: the crippling down time
for an entire organisation can potentially lead
to loss of life, as was the case in Germany.
How does a ransomware attack succeed?
Many of the ‘vectors’ or channels through
which malware including ransomware is
distributed are incredibly simple. The most
common channel is email, where infected links
or files such as Word or Excel documents may
be clicked and/or opened.
March 2022