Ransomware: What to know to create an incident response plan

Published by: Jose Ortiz

November 3, 2021 | CUNA Mutual Group

Ransomware developers and affiliates have been telling victims that they must pay the ransom or stolen data and internal company secrets would be publicly released. Unfortunately, six- and seven-figure demands have become routine among ransomware attacks.

“These cyber attacks have no boundaries and are truly a global issue. Ransomware has grown in frequency and severity, and extortion demands have risen significantly. A ransomware incident is one of the most disruptive and costly attacks your organization can suffer,” according to Derek Laczniak, CIC, Director-Cyber Liability at M3 Insurance. Laczniak, who leads the cyber liability strategic relationship with M3 and CUNA Mutual Group, adds, “There’s no foolproof way of preventing ransomware attacks from occurring; however, there are a number of things to know to help you be prepared.”

Review “Ransomware: A Checklist of Things to Know” to learn more about how your credit union should prepare.

If you’d like to discuss ransomware or cyber risks in more detail, schedule a no-cost personalized discussion with a CUNA Mutual Group Risk Consultant or contact us at riskconsultant@cunamutual.com or 800-637-2676.

Contact Jose Ortiz for questions or assistance.

Jose Ortiz
Jose Ortiz Sr. Business Solutions Manager E: jortiz@ohiocul.org
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