Like Voldemort, ransomware is too scary to be named

Discussion in 'other security issues & news' started by hawki, Dec 23, 2019.

  1. hawki

    hawki Registered Member

    Dec 17, 2008
    DC Metro Area
    "Wary of alarming investors, companies victimized by ransomware attacks often tell the SEC that “malware” or a “security incident” disrupted their operations...

    ...Because attacks cost money, affect operations and expose cybersecurity vulnerabilities, they sometimes meet the definition used by the SEC of a “material” event ... Material events must be reported in public filings, and failure to do so could spur SEC action or a shareholder lawsuit...

    ...Yet some companies worry that acknowledging a ransomware attack could land them on the front page, alarm investors and drive down their share price. As a result, although many companies cite ransomware in filings as a risk, they often don’t report attacks or describe them in vague terms, according to experts in securities law and cybersecurity..."

    [Long Read]

    NB: Original Propublica story hard to read cuz of large "Donate" Banner -- Reprinted here in easier to read format:
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