Ho, Ho, Ho! Ransomware Attacks Aplenty Expected During Holidays

Nothing says the holidays like decorations, parties, presents, mistletoe and now, apparently, ransomware.

Cybereason has published a global study of more than 1,200 security professionals at organizations that have previously suffered a successful ransomware attack on a holiday or weekend. The study highlights the disconnect between organizational risk and preparedness.

Among the key takeaways:

Lack of Preparedness Intensifies Impact

The lack of preparedness for ransomware attacks on weekends and holidays has a significant impact on victim organizations. Sixty percent of respondents said it took longer to assess the scope of an attack. One-half said they needed more time to mount an effective response. Furthermore, one-third (33%) said they needed more time to fully recover from the attack. This research validates the assumption that it takes longer to assess, mitigate, remediate and recover from a ransomware attack over a holiday or weekend.

The retail and transportation sectors present high-value targets for ransomware attackers, according to Cybereason. That’s because the potential for disruption and lost revenue increase incentives for victims to pay higher ransom demands.

Nearly 70% in both retail and transportation said a previous ransomware attack was successful because they didn’t have the right security solutions in place. In addition, one in four (24%) said their organizations still don’t have a specific contingency plan to address the risk from weekend and holiday attacks despite previously having been a victim.

To learn more, we spoke with Israel Barak, Cybereason‘s chief security information officer.

Channel Futures: What are the most surprising findings in this study?

Cybereason’s Israel Barak

Israel Barak: Despite having already been a victim of a ransomware attack, too many organizations still do not have the most basic technologies in place to prevent being a victim again — such as endpoint prevention like next-generation antivirus (NGAV) or endpoint detection and response (EDR) for proactive threat hunting and early detection of RansomOps.

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