Ransomware’s New Turning Point: Pay up or we’ll breach your data & you’ll have to pay a HUGE fine!

[Andra Zaharia]

Short horror story for companies:

Cyber criminals use ransomware as a proof of concept to extort more money from companies, threatening to breach their data and subject them to potential fines worth millions of euros. (As a result of the EU GDPR coming into full effect in 2018.)

It's not a SciFi scenario, it's what me and my colleagues from Heimdal believe can happen and most likely will happen soon.

What do you think?

 

[Solarquest]

You are right, unfortunately many bad guys are smart and heavily after money.
We'll see more and more attacks and security breaches.
Solution?

All have to invest more in security!
European law goes in the right direction in my opinion forcing companies to do it.
"These strong sanctions were introduced in the EU GDPR to urge companies to invest in their cyber security and take practical steps towards better data protection."
I said and repeated before, we need fines, to make companies accountable for damages they caused because of lack of security.
Unfortunately most people don't act unless they have to or it will cost (a lot of) money if they don't care.

 

[Balrog]

You are right, unfortunately many bad guys are smart and heavily after money.
We'll see more and more attacks and security breaches.
Solution?

All have to invest more in security!
European law goes in the right direction in my opinion forcing companies to do it.
"These strong sanctions were introduced in the EU GDPR to urge companies to invest in their cyber security and take practical steps towards better data protection."
I said and repeated before, we need fines, to make companies accountable for damages they caused because of lack of security.
Unfortunately most people don't act unless they have to or it will cost (a lot of) money if they don't care.

And more investment in common sense