St. Marys, Ont. was targeted by a cyberattack, prompting the mayor to seek legal advice and pay a $290,000 ransom in cryptocurrency to avoid damaging people’s data. Similar incidents are affecting many organizations, such as hospitals and libraries, and cybersecurity experts advise against ceding to attackers’ demands, which only funds the problem. As cybercriminals continue to develop ransomware, more organizations are at risk, and cybersecurity is being outpaced.
The ransomware used on St. Marys, called LockBit 3.0, was likely in the town’s systems for a long time and was a constant threat. The attack cost the town $1.3 million and left the government with limited support. Furthermore, many organizations lack the necessary cybersecurity measures, making them easy targets for attacks. Despite efforts to advise and provide tools to combat ransomware, organizations still feel unsupported and unprotected.
The threat of cyberattacks continues without adequate support from governments and law enforcement. Only more proactive monitoring from artificial intelligence and better collaboration between governments and organizations can protect against the growing threat. Until then, many more places like St. Marys will remain vulnerable to ransomware attacks with limited help from authorities.
>>Join our Facebook Group be part of community. <<