{"id":42717,"date":"2023-04-11T11:36:20","date_gmt":"2023-04-11T18:36:20","guid":{"rendered":"https:\/\/www.springboard.com\/blog\/?p=42717"},"modified":"2024-01-02T09:15:32","modified_gmt":"2024-01-02T17:15:32","slug":"how-to-minimize-cybersecurity-threats","status":"publish","type":"post","link":"https:\/\/www.springboard.com\/blog\/business\/how-to-minimize-cybersecurity-threats\/","title":{"rendered":"The Long-Term Impact of Cybersecurity Threats and How To Minimize Them"},"content":{"rendered":"\n

In the winter of 2021, in the thick of the busy December holiday season, one of the most popular human resource platforms<\/a> became the victim of a ransomware attack, forcing thousands of companies, hospitals, and municipalities to track employee hours and calculate paychecks the old-fashioned way\u2014paper, pencil, and spreadsheet.<\/p>\n\n\n\n

One month later, the systems in the largest county in New Mexico were hit by a similar attack. Shortly thereafter, one of the world\u2019s largest semiconductor chip manufacturers had 1TB of private employee data held hostage to the tune of $1 million. Next, a major automotive manufacturer, then an airline, and the list goes on and on.<\/a><\/p>\n\n\n\n

Fast-forward to today, and the persistent threat of cyberattacks, particularly ransomware, continues to accelerate. According to NCC Group\u2019s Global Threat Intelligence team<\/a>, ransomware attacks are up 45% since the previous month and up 30% year-over-year. Almost half of all ransomware activity targeted organizations in North America, with consumer services, manufacturing, and entertainment companies leading the pack.<\/p>\n\n\n\n

Ransomware attacks, however, are not just increasing in frequency. They\u2019re getting more sophisticated, more efficient, and more troublesome. Techradar reports<\/a> that a new strain, dubbed Rorschach, is capable of infecting and encrypting files in record time. That means that by the time you discover you\u2019re infected, it\u2019s probably too late.<\/p>\n\n\n\n

Whether the threat originates from foreign entities, homegrown hackers, or even disgruntled former employees, organizations of every size and in every industry are increasingly at risk.<\/p>\n\n\n\n

And although the immediate impact of a ransomware attack is obvious, the long-term effects may be harder to spot\u2014and potentially more damaging. Even if you quickly address the situation, the sting is much harder to shake. The most notable long-term effects include:<\/p>\n\n\n\n