Ransomware: Cyber Crime’s Billion-Dollar Industry

Ransomware: Cyber Crime's Billion-Dollar Industry Image

By David Jemmett

David Jemmett CEO of Cerberus Sentinel, discusses ransomware

Ransomware is one of the most notorious and destructive tools in a hackers’ arsenal, with companies falling victim to attacks every day. The threat is a type of malware that infects computer systems, identifies underlying data, and holds that data hostage by encrypting it until a ransom is paid. In the last year, the world has witnessed multiple high-profile attacks, including a series of government networks being brought to a standstill after they were infected. Today, ransomware has evolved into a real-world threat and any organization or individual has the potential to become a victim. However, one industry at particularly high risk is healthcare.

Healthcare organizations are a prime target for cybercriminals due to the data repositories held by healthcare organizations.  These records are very lucrative and sought after in the black market of the Dark web. Typically, healthcare organizations do not have the budget to deploy state-of-the-art security solutions from budget constraints, they are fairly easy to compromise. The Healthcare industry also struggles to find and keep security talent, with teams being replaced regularly, leaving gaps in their knowledge and security posture which are frequently exploited by cybercriminals.

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Cerberus Sentinel specializes in cybersecurity solutions that build a culture of security within an organization, enabling them to improve security, lower risk profile, optimize IT infrastructure, and meet regulatory compliance demands with extensive and comprehensive compliance review. Our Philosophy – Cybersecurity is a culture, not a product®. We believe culture is the foundation of every successful cybersecurity and compliance program. To deliver this outcome, we developed MCCP+ our holistic approach that ensures you’re secure in every area of your business. We are a publicly traded cybersecurity company listed with ticker CISO. A nationwide provider of consulting and managed services, with offices and resources across the USA, we specialize in building a culture of awareness for our clients. Founded with the belief that an acquisition approach is the best way to address the industry-wide skills gap. We are focused on cybersecurity, compliance, and the culture that drives success, acquiring world-class engineering talent who utilize the latest technology to create innovative solutions to protect even the most demanding businesses and governments against continuing and emerging threats.