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

    Joined:
    Dec 17, 2008
    Posts:
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    Location:
    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:

    https://www.rawstory.com/2019/12/like-voldemort-ransomware-is-too-scary-to-be-named/

    https://www.propublica.org/article/like-voldemort-ransomware-is-too-scary-to-be-named
     
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