Assessing the impacts of a global ransomware attack

A new report published by Lloyds explores the impacts and economic costs of a future highly effective ransomware attack and concludes that the global economy is not ready to deal with such an attack.

The report, ‘Bashe attack: Global infection by contagious malware’ explores a scenario in which a ransomware attack is launched through an infected email, which once opened is forwarded to all contacts and within 24 hours encrypts all data on nearly 30 million devices worldwide. 

The report estimates a cyber attack on this scale could cost $193bn and affect more than 600,000 businesses worldwide; and states that the global economy is underprepared for these types of incident, with 86 percent of the total economic losses uninsured, leaving an insurance gap of $166bn. 


Source: DRJ New feed

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