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The fallout from a global cyberattack: ‘A Battle We’re Fighting Every Day;’ Steep costs beyond ransom, says Lauren Reynolds, Rose Law Group litigator focusing on cybersecurity

Posted by   /  May 16, 2017  /  No Comments

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 By Steve Lohr and Liz Alderman | The New York Times

On Sunday, union representatives for a Renault auto plant in France received text messages from the management: Tell the workers to stay home the next day. The company was still dealing with the fallout from a global hack that hit thousands of businesses and the factory would be shut.

Since the hack was first detected on Friday, the company’s technicians have been racing to assess the damage. They have cleaned and rebooted systems that control robots on Renault’s factory floors, trying to make sure their systems were back to normal.

Continued:

“Ransomware attacks result in steep costs to businesses, beyond the demanded ransom amount.  Between providing for preventative measures and insurance costs to the costs of production being slowed or business coming to a halt, ransomware and other cybersecurity risks can end up taking a financial toll on businesses everywhere.“

~Lauren Reynolds

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  • Published: 2 months ago on May 16, 2017
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  • Last Modified: May 16, 2017 @ 3:46 pm
  • Filed Under: Cyberlaw, Featured News

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