Privacy.Minded. - As Ransomware Attacks Increase, The SEC Takes Notice

2020 has seen a huge increase in ransomware attacks. According to CRN.com, victims of the 11 biggest ransomware attacks (as of June 30, 2020) spent at least $144.2 million on costs related to the attacks. Moreover, the transition to a remote workforce as a result of the COVID-19 pandemic has increased the attack area while simultaneously limiting the effectiveness of cyber defenses. The Securities and Exchange Commission (“SEC”) has taken notice of this increase in attacks and offered observations about what companies should be doing to address this risk.

Read the full alert below.