Cost of 2020 US Healthcare Ransomware Attacks Estimated at $21 Billion
Ransomware attacks on the healthcare industry skyrocketed in 2020. In 2020, at least 91 US healthcare organizations suffered ransomware attacks, up from 50 the previous year. 2020 also saw a major ransomware attack on the cloud software provider Blackbaud, with that attack known to have affected at least 100 US healthcare organizations.
The first known ransomware attack occurred in 1989 but early forms of ransomware were not particularly sophisticated and attacks were easy to mitigate. The landscape changed in 2016 when a new breed of ransomware started to be used in attacks.
These new ransomware variants use powerful encryption and delete or encrypt backup files to ensure data cannot be easily recovered without paying the ransom. Over the past 5 years ransomware has been a constant threat to the healthcare industry, with healthcare providers being increasingly targeted in recent years. Attacks now see sensitive data stolen prior to file encryption, so even if files can be recovered from backups, payment is still required to prevent the exposure or sale of stolen data.
Healthcare ransomware attacks cripple IT systems, prevent...