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Data-ransom attacks have reached an alarming new scale

Having read an article on the CGMA website I wanted to share the topical material with you all. This highlights the fact that all business leaders must learn how to protect their business's sensitive data.

Companies around the world are dealing with a "powerful escalation" of the cyber-attack method known as ransomware, Nicole Perlroth writes for The New York Times. On May 12, criminals seized control of computers and data at institutions ranging from FedEx to Russia's Interior Ministry and Britain's public health system – and then demanded ransom payments for restoration of access. About half of the victims pay the ransom in a typical attack – most often small and midsize firms that don't have adequate backups of their data. This latest attack symbolises the mainstream emergence of these attacks, which now can be executed with little technical expertise, Perlroth reports.

Read more in The New York Times >