A Ransomware Task Force Has Released Extensive Recommendatio

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In 2020, ransomware caused businesses an estimated $20 billion in losses worldwide. Those losses were a substantial increase from 2019 when ransomware caused $11.5 billion in business losses. Not only is the ransomware scourge growing, but cybercriminals are also increasingly attacking smaller and smaller companies, often because they have less security in place.
Last week, a multi-industry Ransomware Task Force issued a long anticipated, extensive report regarding how to deal with the ever-increasing threat that ransomware is posing to businesses, and in turn, the global economy. Due to the broad composition of the task force, the report recommends addressing ransomware holistically and from a number of different angles; below you will find several highlights from this report. All companies, regardless of size, are strongly encouraged to work with outside counsel and forensic consultants to prepare for the ransomware threat.