Execs: the government doesn’t need to fight ransomware attacks

Ransomware attacks threatening in recent weeks to interfere with the way Americans heat their homes, drive their cars and eat are among the factors prompting business leaders to call for a vigorous government response against the attackers, reported the Wall Street Journal (WSJ).

Kevin Mandia, CEO of cybersecurity firm FireEye, told the public at a WSJ Pro cybersecurity executive forum Wednesday, according to the report: “Pharmaceuticals, hospitals, healthcare, state-owned companies, organizations that don’t. not the talent and skills to defend themselves – they ‘get punched.

Citing the May 7 ransomware attack that caused the temporary shutdown of the all-important Colonial Pipeline, Rob Joyce, director of the National Security Agency’s Cyber ​​Security Directorate, said in the report: “It was a time when I think a lot of america has woken up to the reality that the cyber realm and the physical realm are increasingly intertwined.

This attack was followed by the ransomware attack that led meat processor JBS USA to shut down some operations, PYMNTS reported.

US authorities have indicated that Russian gangs were behind at least some of the attacks, and Mandia said US President Joe Biden should use a summit scheduled for June 16 with Russian President Vladimir Putin to insist on a crackdown, according to the WSJ.

Biden could use levers, such as new sanctions, Mandia said, according to the WSJ, adding, “You have to pull every lever on this one. We have to impose repercussions and costs.

While companies have paid millions of dollars in ransom to regain access to files, some organizations are unable to do so, the WSJ reported, citing one that was not the case as an example. Scottish Environmental Protection Agency. CEO Terry A’Hearn told the WSJ audience according to the report that it has taken more than five months since the assault to rebuild the systems, and they are still not fully operational.

Johnson & Johnson Chief Information Security Officer Marene Allison told the WSJ event: “You will see attacks, whether through your email, through your systems, through your network, all day long. . Twenty-four out of seven from around the world.

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NEW PYMNTS DATA: STUDY ON CRYPTO-CURRENCY PAYMENTS – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use – and how merchant acceptance can influence merchant choice and consumer spending.






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About Genevieve Swain

Genevieve Swain

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