CIO , Data
Among the most dire consequences of a successful cyber exploit are ransomware attacks. Costs for dealing with ransomware average out to tens of thousands of dollars, with the price tag presently doubling every quarter. State and local governments—often with underfunded network infrastructures—find themselves less prepared to resist ransom demands and are paying an average of $338,700, according to ransomware consultancy Coveware.
These public sector attacks offer a window into the methods and risks of ransomware attacks, as these are often more openly covered in the media. There are, unfortunately, plenty of them to look at, with 53 attacks targeting state and local governments in 2018, according to a report from threat-intelligence firm Recorded Future. 2019 is tracking to be well above that figure.
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