MCPc CEO comments on Baltimore hack

MCPc comments on the Baltimore ransomware attack

BY ANDY JONES, CEO at MCPc


Unfortunately, ransomware attacks like the one in Baltimore on May 7th are only going to become more and more common. The cost of entry for this form of attack is very low—they do not require any particularly advanced technical skills to perpetrate a network. Cisco’s 2017 Annual Cybersecurity Report says that ransomware is rising 350% year over year. The increased incidence of ransomware is reflected in damage costs, as well: global ransomware damage costs are predicted to hit $11.5 billion this year and rise to $20 billion in 2021, according to Cybersecurity Ventures.

But there is some good news: this potentially devastating impact is nearly entirely preventable. At the core, the vast majority of successful ransomware attacks take advantage of known vulnerabilities in operating systems and applications. According to the 2019 DBIR, 54% of breaches are through desktops and laptops. Education and training can help, but only so far. The bulk of these attacks are successful due to poor cyber hygiene and systems that are not properly maintained and up to date.

The cybersecurity industry has responded with a variety of tools that have historically limited success of dangerous ransomware attacks. All of these tools offer valuable protections, but true intervention can only be achieved through a holistic data protection strategy, like that offered through MCPc’s Chain of Custody Security SolutionsSM platform.

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Andy Jones, CEO at MCPc