💰💣

Illumio Security Incident

2024 630 days ago Resolved

Incident Overview

Situation Description

Organizations continue to struggle with ransomware attacks despite advances in cybersecurity, with increased costs and operational disruptions.

Event Types

Ransomware Malware / Destructive Attack

Industry Sector

nan

Geographic Scope

Global

Response Actions

Hardened Attack Surface Conducted Employee Training Revised Incident Response Plan

Impact Analysis

Event Types (2 identified)

Ransomware Malware / Destructive Attack

Financial Impact

$146,685 USD

Records Affected

Data Types Compromised

PII (Personally Identifiable Information) Financial Data (Credit Cards, Bank Accounts) Intellectual Property Credentials Government Data Source Code Operational / System Data

Primary Impacts

Financial Loss Data Exposure Operational Disruption Reputational Damage

Key Decisions Made

Organizations need operational resilience and controls like microsegmentation to stop attackers from reaching critical systems.; To improve prevention and reduce the time it takes to respond, organizations should address negligent user behavior and the lack of security awareness.; Organizations should secure the cloud and endpoints to prevent ransomware attacks.

Technical Analysis

Attack Method

Phishing

Vulnerability / Tool

Unpatched Systems Remote Desktop Protocol (RDP)

Additional Information

Despite advances in cybersecurity technologies, including artificial Intelligence (AI), organizations continue to find it difficult to detect and prevent ransomware attacks. Research conducted by The Ponemon Institute and sponsored by Illumio , Inc. has found that eighty-eight percent of organizations experienced one or more ransomware attacks in the past three months to more than 12 months. According to the research, based on the hours and practitioners involved organizations spent an average of $146,685 to contain and remediate the largest ransomware attack experienced. In 2021, the average cost was slightly higher at $168,910. An on-demand Webinar with many more details on the research is available for free at Illumios website. The purpose of this research is to learn the extent of the ransomware threats facing organizations and the steps being taken to mitigate the risks and their consequences. Ponemon Institute surveyed 2,547 IT and cybersecurity practitioners in the U.S. (578), U.K. (424), Germany (516), France (471), Australia (256) and Japan (302) who are responsible for addressing ransomware attacks. In addition to the 2024 findings, the report also presents research from a ransomware study Ponemon Institute conducted in 2021 and published in 2022. A comparison of the studies reveals changes in ransomware risks and the practices used to reduce the threats in the past three years. Since 2021, while the perception that their organization is a target of ransomware has declined from 68 percent to 54 percent of respondents, the consequences of a ransomware attack such as downtime, loss of significant revenue and brand damage has increased. Ransomware is more pervasive and impactful than ever, with more organizations forced to suspend operations or experiencing major business failure because of attacks, said Trevor Dearing, Director of Critical Infrastructure at Illumio. Organizations need operational resilience and controls like microsegmentation that stop...

... (truncated for display)

Quick Facts

Company:: Illumio
Date:: 2024
Status:: Resolved
Decision Maker:: Trevor Dearing
Position:: Director of Critical Infrastructure
Published:: nan

Source Information

Original Query

comparative analysis of operational downtime costs for paying vs not paying ransom

View Original Source

Timeline

Information Published

nan

Incident Occurred

2024 (630 days ago)

Status: Resolved

Estimated resolution based on age

Actions

View Company Profile

Navigation

Quick Stats