"No amount of emphasis can truly demonstrate how dangerous the current threat landscape is. According to the latest ransomware report by Sophos, the average ransomware demand has now reached $1 million, while average recovery costs stand at $1.5 million. However, that's not all. Some organizations are paying even higher than the average ransom to recover their data. The costs of service disruption, financial losses, and regulatory penalties add further to a CISO's misery."
"In 2024, Change Healthcare faced one of the world's most devastating data breaches, orchestrated by the BlackCat hacker group. The attackers stole ~6 TB of data, impacting millions of patients, providers, and payers. The company, a key infrastructure provider for claims, authorizations, and eligibility verification, had to shut down critical systems to contain the threat. The breach disrupted care workflows, billing operations, and reimbursements nationwide."
Average ransomware demands have reached $1 million, with recovery costs averaging $1.5 million. Some organizations pay far more to recover data. Service disruption, financial losses, and regulatory penalties compound the impact on security leaders. The leading root cause of ransomware incidents is exploitable vulnerabilities. Widespread lack of skilled personnel and insufficient security staffing contribute to organizational compromise. A major 2024 incident at Change Healthcare resulted in ~6 TB of stolen data, widespread operational shutdowns, and severe nationwide disruption. Attackers exploited compromised credentials and absent multi-factor authentication, moved laterally, and caused over $1 billion in losses while ransom payments totaled $22 million.
Read at Computerworld
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