Ransomware is a global threat that requires a coordinated, global response
The ransomware attack on Garmin last week, which paralyzed the navigation and fitness company’s activities for several days until it paid millions of dollars to the criminals responsible, is hugely worrying, both in terms of its scale, and the danger it poses to every activity on the web.
Until now, ransomware attacks have mainly been directed at smaller companies, which typically lack sophisticated security systems or expert staff. Over time, we have seen companies such as pharmaceutical company Merck, logistics giant Maersk, and even hospitals or local governments get the call from criminals demanding payment in return for giving them back access to their own data or preventing it from being published (which, at times and depending on the nature of the data, can be even more costly).
But Garmin has been a NASDAQ-listed company since 2000, valued at close to $20 billion and with millions of users worldwide. In addition, the company chose to pay the multi-million dollar ransom, which will provide an incentive for more attacks of this type. Travel agency CWT recently suffered another such attack, and ended up paying $4.5 million after negotiating an initial request for $10 million, following an exchange of messages with the criminals who even went so far as to give it advice to prevent similar…
