Last year, ransomware devastated companies and even entire cities. Entertainment and news media organizations could be next.
In a ransomware attack, hackers deploy malicious tools to hijack data, effectively locking administrators and users out of systems and devices, until a fee is paid.
Since cash and online bank transfers are easy to track, the currency of choice is now bitcoin, which is transferred through an encrypted system and can’t be traced. The emergence of the blockchain and cryptocurrencies have transformed ransomware into a lucrative business.
In the spring of 2019, Baltimore became the latest city to have some of its critical services held for ransom. Since it hadn’t prepared in advance for such a scenario, it took several months for the systems to come back online. Residents couldn’t pay water bills for months, email their city representatives, or schedule trash pickups, among other things.
Ransomware attacks target mostly cities, financial services and healthcare organizations because their data and services are so valuable. Simply backing up your organization’s data probably won’t be enough of a failsafe going forward. Researchers have already found “doxware” floating around the internet—in those cases hackers, rather than simply holding your data hostage until you pay up, threaten to publish it to the web for everyone to see.
This trend is part of our section on Security. Other trends in this section include:
Accountants, Advertising and Public Relations, Aerospace, Agriculture, Airlines, Alternative Energy Production & Services, Architectural Services, Auto Manufacturers, Banking, Bars & Restaurants, Beauty, Beer, Wine and Liquor, Book Publishers, Broadcasters, Radio and TV, Builders/General Contractors, Cable & Satellite TV Production & Distribution, Casinos/Gambling, Chemical & Related Manufacturing, Civil Servants/Public Officials, Clergy & Religious Organizations, Clothing Manufacturing, Commercial TV & Radio Stations, Construction, Corporate Boards & Directors, Covid-19/ coronavirus, CPG, Cruise Ships & Lines, Defense, Diplomacy, Doctors & Other Health Professionals, Drug Manufacturers, Education Colleges & Universities, Education K-12, Education Online, Education Trades, Electric Utilities, Entertainment Industry, Environment, Finance, Foreign & Defense Policy, Gas & Oil, Government - International, Government - National, Government - State and Local, Health Professionals, Heavy Industry, Hedge Funds, Hospitality, Hotels/Motels/Tourism, Human Resources, Information Technology, Infrastructure, Insurance, Law Enforcement, Lawyers/Law Firms/Legal Industry, Lobbyists, Luxury Retail, Magazines, Manufacturing, National Security, News Media, Non-profits/Foundations/Philanthropists, Online Media, Pharmaceuticals/Health Products, Private Equity, Professional Sports, Radio/TV Stations, Real Estate, Retail, Technology Company, Telecommunications, Trade Associations, Transportation, Travel Industry, TV Production, TV/Movies/Music, Urban Planning, Utilities, Venture Capital, Waste Management, Work (Future of)