Over the last few months, there have been a number of ransomware attacks on businesses and infrastructure. In May, a critical U.S. oil pipeline was targeted – forcing the company to temporarily shut down operations. That led to panic buying and a fuel shortage in the Northeast United States. In June, a U.S. meat company was forced to pay $11 million dollars to resume its operations after cyber-criminals took its plant offline. And in July, hundreds of supermarkets in Sweden that rely on software from a U.S. company were forced to close because a cyber-attack crippled cash registers.
Joining the discussion:
- James Sung is the Chief Strategist at Zocus Strategic Marketing.
- Einar Tangen is a political and economic affairs commentator.
- Klisman Murati is the Founder and CEO of Pangaea Wire Group and a global geopolitical adviser.
- Dan Ives is the Managing Director and Senior Equity Research Analyst covering the technology sector at Wedbush Securities.
From 2019 to 2020, the #FBI noted a 21% increase in #ransomware complaints to the Internet Crime Complaint Center. In response, the FBI and our partners launched https://t.co/l8HCEQKIG2, a tool to help individuals and organizations report incidents and mitigate ransomware risk. pic.twitter.com/q4MWpGK3Rt
— FBI (@FBI) July 21, 2021
While the pandemic has driven up insurance premiums across the board, cyber insurance has gotten especially expensive. https://t.co/uvB8ShfoV0
— Quartz (@qz) July 21, 2021