Ransomware: What to Know to Create an Incident Response Plan

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 cyberattacks have no boundaries and are truly a global issue,” according to Derek Laczniak, CIC, director-cyber liability at M3 Insurance. “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.

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, simply schedule a no-cost personalized discussion with a CUNA Mutual Group Risk Consultant or contact us at riskconsultant@cunamutual.com or at 800-637-2676.