The recent “WannaCry” ransomware cyberattack highlights the need for firms to engage in proactive prevention and protection. Ransomware (malware that encrypts data pending an extortion payment) is a recurring cyber threat that is growing more pervasive and profitable for criminals. This most recent attack this month by the WannaCry virus highlights the potential global impact, speed and acceleration, and scope of the ransomware problem.
Ransomware as one unique form of cyberattack has been an increasing global and domestic cybersecurity problem over the last several years. Ransomware targets have included businesses, hospitals, schools, and even police departments. Worryingly, some recent forms of ransomware are becoming more sophisticated and resilient.
In response to the recurring nature of this type of cyberattack, Morgan Lewis partner Mark Krotoski and associate Martin Hirschprung authored a LawFlash offering some steps for proactive prevention and protection as well as some thoughts on the legal issues that may arise following these types of cyberattacks.