Security & Risk Management

Evaluating, analyzing, and managing the risk and security

Hackers target big industries that pay ransom

The energy industry is drawing more ransomware attacks.

The reason: Energy companies have been paying ransom to regain control of their computer systems.

“We have energy moving from the 10th-most-targeted industry last year to No. 4 this year. Once an industry starts paying, attacks increase,” cyber-security expert Jim Guinn told the Wall Street Journal.

In many cases, companies had deferred plans to improve security and resilience last year because they were busy dealing with Covid-19.

Hackers also know that energy companies deal with huge sums of money.

“Many of these ransoms are a rounding error for companies,” said Chris Bronk, associate professor of computer information systems and information system security at the University of Houston. 

 “The ransomers are going where the payouts are. And these ransomers have gotten pretty businesslike. The outcome of paying the ransom and getting the keys to unlock your stuff has gotten a lot better. But still, every ransom that gets paid is legitimizing this illegal business activity,” Bronk told the Journal.

Mark Wiener

CEO

Mark Wiener, CEO, BizCom Global has spent 30 years in the digital transformation industry even before it was a term.  Focusing on bringing together Operational productivity needs, Financial compatibility and IT standards and integration including security.  He works with companies from the halls of the fortune 500 down to the local mom and pop business focusing on how companies looking through the lens of a cloud first strategy can help achieve improved operational performance with planned and proper implementation of technology which include appropriate cybersecurity controls.

Mark prides himself on his ability to really listen to the customer, honestly assess their needs, and work relentlessly to assure the final solution exceeds the customer’s expectations.

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