Posted in News on 24 Nov 2017
In June of this year, the world witnessed in dismay as a new strain of ransomware spread across the Northern hemisphere. Ukraine appears to have been ground zero for the virus, impacting domestic banks, government and their largest power companies, including Chernobyl nuclear power plant.
The virus Petrwrap (also referred to as Petya) left companies unable to access their systems, and in the case of Chernobyl, forced employees to measure radiation levels using handheld devices.The damage was felt both inside and outside Ukraine, with over 64 countries impacted.
It is also widely considered that North Korea was behind the WannaCry attack impacting over 150 countries. The number of attacks sponsored by nation states and the use of ransomware is increasing. While it is impossible to prove there is a direct correlation between the two, it is clear that ransomware as camouflage to conceal darker activities is causing huge financial losses as collateral damage globally.
Download our ransomware bulletin for more information on our range of Cyber Insurance Solutions