Great Article: The Costly Ripple Effects of Today’s Cyber-Attacks

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CNBC posted a great article today titled “Tax delays and canceled home sales: The costly ripple effects of today’s cyber-attacks.”  I highly recommend reading it.

The point of the article is that we are seeing secondary and tertiary impacts of cyber-attacks that are causing disruption and costs to everyday life.  The article talks about a hack that took down a major accounting software company causing the IRS, for the first time in its history, to extend a filing deadline for impacted accounting firms by 7 days.  It also talks about the devastating ransomware attack on the city of Baltimore that is still being cleaned up weeks later.  This attack has impacted residents ability to complete real estate transactions, among other things.  Check out this image boldly displayed on the city’s home page, which clearly indicates how severe the situation remains.

Baltimore Web Banner

An important conclusion of this article, based on research by cybersecurity firm Malwarebytes is that ransomware attacks are up a staggering 500% this year, compared to one year ago.  This is perhaps the most important point of this article!  It underscores how important it is to be sure your teams are properly trained to avoid getting caught by ransomware.

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