Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cyber Insurance

Ransomware Hits Hundreds of US Schools, Local Governments: Study

Hundreds of US municipalities, schools and health organizations have been hit by ransomware in 2019, leading to massive service disruptions, researchers said Tuesday.

Hundreds of US municipalities, schools and health organizations have been hit by ransomware in 2019, leading to massive service disruptions, researchers said Tuesday.

The security firm Emsisoft said at least 621 government entities, healthcare providers and school districts, colleges and universities were affected by ransomware in the first nine months of 2019.

The attacks which lock up computer networks if a ransom is not paid has led to disruption of municipal and medical services and the closing of some schools, the report noted.

The researchers had no prior year data for comparison but said ransomware appears to be surging as hackers seek vulnerabilities in older computer networks and use cryptocurrencies to anonymously get payments.

“There is no reason to believe that attacks will become less frequent in the near future,” said Fabian Wosar, chief technology officer at Emsisoft.

“Organizations have a very simple choice to make: prepare now or pay later.”

The researchers said the use of cyber insurance may be making ransomware more profitable than it otherwise would be and “incentivizes further attacks.”

A report earlier this year by the Internet Society found global losses from ransomware rose by 60 percent last year to $8 billion.

Advertisement. Scroll to continue reading.

Emsisoft said at least 68 state, county and municipal entities were hit by ransomware including widely publicized incidents in Baltimore, Maryland, and New Bedford, Massachusetts, where a $5.3 million demand was issued.

The report found 62 incidents involving school districts and other educational establishments, which potentially impacted up to 1,051 individual schools, colleges and universities.

At least 491 ransomware attacks this year affected US health care providers, in some cases forcing hospitals to turn away emergency room patients or cancel surgeries, the researchers said.

While law enforcement and security experts say it is unwise to pay hackers, many organizations have ended up accepting ransom demands which cost less than rebuilding computer systems.

Written By

AFP 2023

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

People on the Move

Mike Dube has joined cloud security company Aqua Security as CRO.

Cody Barrow has been appointed as CEO of threat intelligence company EclecticIQ.

Shay Mowlem has been named CMO of runtime and application security company Contrast Security.

More People On The Move

Expert Insights

Related Content

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cybercrime

As it evolves, web3 will contain and increase all the security issues of web2 – and perhaps add a few more.

Cybercrime

Luxury retailer Neiman Marcus Group informed some customers last week that their online accounts had been breached by hackers.

Cybercrime

Zendesk is informing customers about a data breach that started with an SMS phishing campaign targeting the company’s employees.

Cybercrime

Patch Tuesday: Microsoft calls attention to a series of zero-day remote code execution attacks hitting its Office productivity suite.

Ransomware

A SaaS ransomware attack against a company’s Sharepoint Online was done without using a compromised endpoint.

Artificial Intelligence

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.