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CREDIT TO TOM KNOWLES –

Hackers target Rail Ransoms

Since the Swiss Rail Company Stadler was attacked by Malware in April, this year, the industry has been rightly fearful of data loss leading to Ransomware. The Times reported today that Cyberhackers were running sophisticated PR relations with their own news websites, press releases, twitter accounts and public updates to aggrandise their competencies and make victims more fearful and more willing to pay

The rise of which back ransomware groups which hack int o company computers and encrypt files before demanding a ransom to release them, are developing PR capabilities to create fear and notoriety. When these groups work with the backing of nation-state sponsorship this bodes badly for critical national infrastructure.  Demands become more fearsome and the likelihood of giving way to demands increases their propensity and a never-ending circle of fear.

The Times reveals that cybercriminals forced British companies to pay out more than £200 Million in ransom last year. The average payment rose from £6,733 to £178.245 in a year. The most high-profile ransomware attack recently was on the smartwatch maker Garmin, which is reported to have paid more that £10 Million, That hack is reported to be from a group called Evil Corp whose leader drives a Lamborghini with a number plate which translates in Russian to “thief”. Another cybercriminal gang, Maze, LG and Canon whose ransomware has been used to attack Xerox, sent out a press release saying it expected clients to pay quickly because of the Pandemic.  They place the onus on the victim to avoid the reputational damage of being named and shamed for being insecure.

Thoughts on this?

Comments

@peepso_user_167695618(Joe Ferguson)
Of course, Garmin is by no means the only large business to suffer such a serious ransomware attack. There have been scores of them. For example, Cognizant, another multinational tech company, suffered a ransomware attack just a few months prior. Although the company claims that only their internal network and not its customer systems were impacted by the attack, its recovery and mitigation costs are still estimated to be as high as $50 to $70 million.
The fact is, neither large businesses nor small businesses (read Train Manufacturers, Roscos and TOCs, and their supply chain partners) can afford to be complacent about their cybersecurity especially now. Ransomware attacks are on the rise and so are the ransom fees. According to nytimes.com, in 2019 there was a 41% increase in ransomware attacks over the previous year and the average payment for regaining access to the encrypted files more than doubled. The FBI also reported that ransomware attacks have become ‘more
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3 months ago
@peepso_user_167695640(Jamison Nesbitt)
Assume you saw the Keolis news this morning coming through on media wires..
1 month ago
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