Join USLAW Tuesday, June 8, 2021, at 1:00 PM ET for a timely webinar titled Ransomware: You Don’t Always Have to Pay.
Kelly Geary, EPIC National Executive Risk & Cyber Practice Leader, will participate in a panel discussion about the expanding threat landscape, evolving response options and the Office of Foreign Assets Control (OFAC) Advisory, legal/ethical considerations, mitigation strategies and the cyber liability insurance market.
Ransomware attacks are growing in frequency, threatening the U.S. critical infrastructure, businesses, and public and nonpublic entities. It is also one of the most intractable and common threats facing organizations across all geographies. Key stakeholders have seen an increase in the average ransom payment by 43% to $220,298 in Q1 2021. With increasing sophistication and new targets, the impact of ransomware attacks in 2021 is going to be significant. Ransomware threat actors are adjusting their attack models putting businesses in a defensive mode. Most concerning is a new emphasis on double extortion ransomware attacks placing many victims in a catch-22 situation when deciding whether to pay to recover or suppress the publication of sensitive or even embarrassing information on the criminals’ leak site. This dangerous trend forces leaders to reassess risk, incident response strategy, ransom payment decision-making, insurance coverage, disaster recovery and business continuity. Join us as we discuss this complicated threat landscape, the U.S. Treasury Department/Office of Foreign Assets Control (OFAC) Advisory, legal/ethical considerations, mitigation strategies, and the cyber liability insurance market.
Joining Kelly for the webinar will be Elizabeth Cookson, Director of Incident Response, Coveware; Karen Randall, Chair of Connell Foley’s Cybersecurity, Data Privacy and Incident Response Group; and Kevin Szczepanski, Partner, Barclay Damon LLP.