Ransomware, a matter of when not if…

Ransomware is one of the biggest cyber threats to the UK.
Ransomware attacks can come with huge financial and reputational costs beyond the ransom itself, with many stopping critical business operations for days or even weeks at a time.

These threats have intensified under current international affairs, with the National Cyber Security Centre (NCSC) raising the national threat level for cyber-attacks.

Ransomware threats take many forms. The most common ransomware variants often “double-dip”, charging a ransom to decrypt data and then publishing that data on the dark web for other cybercriminals to use. Paying the ransom is never a guarantee the encrypted data will be restored, as many of these criminals operate in bad faith.

The UK public sector is a key target and has suffered from multiple high-profile attacks, particularly in the healthcare sector. NCSC research has shown that four in ten businesses (39%) and a quarter of charities (26%) reported having cyber security breaches or attacks in 2021, with many more potential breaches going undetected.

The outcomes of successful ransomware attacks on the UK public sector are wide-ranging. The largest causes for concern are the encryption and theft of citizens' sensitive health and financial data, compromised supply chains, and the disruption of emergency services. According to the 2022 national cyber security strategy, 23% of organisations still don’t see cyber security as a high priority, believing they are “too small” to be targeted or that they don’t hold any valuable information. All information is valuable to cybercriminals and malicious nations may seek to disrupt the UK's critical services and operations. As such, it is crucial for the public sector to follow cyber-security best practices and improve prevention, detection, and response to ransomware attacks.

How our ransomware readiness assessment can help to strengthen your anti-ransomware controls

Our approach provides a holistic assessment of your business’ ransomware readiness. It provides insight into the vulnerabilities in your organisation and shows the potential impact of an attack through our ransomware simulation. By working with key security stakeholders, we establish goals for improvements and ensure any existing security improvement projects are accounted for.

Get in touch

If you require further information or support with your tax challenges, please get in touch today:

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Asam Malik Partner - Technology & Digital Consulting

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Anton Yunussov Director – Cyber Advisory

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