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A Ransomware Law Has Finally Passed: Help Is on the Way

by Erik Briceno

In light of a multitude of recent attacks on U.S. businesses, a new law was recently passed that is meant to aid organizations that are affected by ransomware. How will this law affect you and your company? Much of the burden will still fall on you to adhere to important safety guidelines and require you to keep a managed security service provider on deck in order to prevent dire security consequences from happening in the first place.

Still, this is good news overall, as it means the Senate is beginning to take cybersecurity more seriously. And additional help will be available to your business.

How Does the Ransomware Law Work?

The new ransomware law — officially titled “The DHS Cyber Hunt and Incident Response Teams Act” — would require the Department of Homeland Security to create teams tasked with providing guidelines and advice to organizations on how best to protect their systems from an outside attack. These teams would also offer other technical support, including incident-response assistance where needed. These services would be available to all public and private organizations upon request.

Why Do We Need a Ransomware Law?

Believe it or not, ransomware started out as little more than a buzzword. Now, it’s become an all-too-real facet of everyday life — especially for businesses and organizations. At nearly every level on a daily basis, American infrastructure is under constant attack from foreign entities. That statement may sound like paranoia, but it’s not.

The largest example of this year is what happened in Baltimore. The city’s computer system was hit with a ransomware infection in May, and it kept the city’s government crippled for over a month. Estimates put the cost to recover at over $18 million. The attack reportedly impacted vaccine production, ATMs, airports and hospitals. Likewise, the Atlanta city government spent over $17 million to recover from a ransomware attack.

Interestingly, small-to-midsize businesses are at the largest risk of all. But by an overwhelming majority, all these attacks are originating from other countries around the world, so it makes sense that government would need to step in.

Why Do Businesses Need an MSSP?

A Ransomware Law Has Finally Passed: Help Is on the WayHaving government aid in response to a ransomware attack is all well and good, but it’s by no means a panacea. Preventive action must be maintained and said action kept in a state of flux when it comes to cyber warfare. It requires constant monitoring and adaptation. A recent survey of IT professionals found that those working in the health-care industry were most likely to report a lack of preparedness for an attack. More than 50% believe their industry simply isn’t ready to handle the threat.

More reports are coming out daily, and these attacks are halting US businesses, hospitals and local governments in their tracks. Responsibility and vigilance from everyone are absolute musts if we expect to weather this storm.

 

Since 1995, Manassas Park, VA-based V2 Systems has employed local systems administrators, network engineers, security consultants, help desk technicians and partnering companies to meet a wide range of clients’ IT needs, from research, to implementation, to maintenance. Concentrate on your VISION…We’ll handle the TECHNOLOGY!

ebriceno
About ebriceno
Erik Briceño is the owner of V2 Systems, Inc., one of Northern Virginia’s leading Information Technology Managed Service Providers. He is an inspiring leader for its employees and instrumental business partner for its customers. He is passionate about V2’s purpose, dedicated to exceeding expectations and a consummate professional not afraid of jumping in and getting his hands dirty. Prior to joining V2 Systems in 2002, Erik was a co-founder and COO of Ampcast.com, a leading provider of online resources servicing over 5,000 independent musical artists. At Ampcast.com, Erik spearheaded all aspects of corporate development, funding, strategic vision, and business development for the firm. From 1997 to 1999 Erik held the position of Acoustic Systems Engineer for Electric Boat Corporation, a leading defense contractor. In this role, Erik was responsible for the acoustic fidelity of two noise critical systems and components in the US Navy’s nuclear submarine systems. Erik holds a B.S. in Mechanical Engineering from Vanderbilt University and a Masters of Business Administration from George Mason University. When not working, you will find Erik a dedicated family man, raising two young children with his lovely wife Karen. Together, they enjoy building legos, playing baseball, skiing, riding horses, swimming, traveling, and fixing up old Mopars.
A Ransomware Law Has Finally Passed: Help Is on the Way
A Ransomware Law Has Finally Passed: Help Is on the Way