This week’s news offered fresh reminders of the threat that ransomware poses for businesses and critical infrastructure worldwide

A number of reports published this week offered a reminder of the threat that ransomware poses for organizations and critical infrastructure worldwide, and were also an indication of the enormous repercussions that a successful ransomware attack can have for the victims – and beyond.

For example, an analysis by the U.S. Treasury Department has found that financial institutions in the United States processed some $1 billion in potential ransomware-related payments last year, more than double the amount in the year prior, according to CNN. Meanwhile, the 2022 Annual Review released this week by the United Kingdom’s National Cyber Security Centre (NCSC) called ransomware a “major challenge” to businesses and public services.

Also this week, the U.S. White House hosted the second International Counter Ransomware Summit, which brought together representatives of three dozen nations to discuss ways to combat the ransomware scourge. Meanwhile, several successful ransomware attacks, including against a hospital in Japan, hit the news over the past few days. Watch the video to learn more.

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