In the aftermath of the Colonial Pipeline attack, ISACA polled members in the US and found that 84 percent of respondents expect that ransomware attacks will become more prevalent in the second half of 2021.
The Colonial Pipeline attack caused massive disruptions to gasoline distribution in parts of the United States in May, resurfacing preparedness for ransomware attacks as a front-burner topic for enterprises around the world.
Colonial reportedly authorized a ransom payment of US$4.4 million. “It was the right thing to do for the country,” Colonial CEO Joseph Blount told the Wall Street Journal. “I didn’t make it lightly.”
In the ISACA survey, four out of five survey respondents say they do not think their organization would pay the ransom if a ransomware attack hit their organization.
Among the survey’s other notable findings:
- A combined 85 percent of respondents say they think their organization is at least somewhat prepared for a ransomware attack, but just 32 percent say their organization is “highly prepared.”
- Four in five respondents say their organization is more prepared for ransomware incidents now than four years ago, when the WannaCry and NotPetya attacks inflicted major damage. And two-thirds of respondents expect their organization to take new precautions in the aftermath of the Colonial Pipeline incident.
- Nearly half of respondents (46 percent) consider ransomware to be the cyberthreat most likely to impact their organization in the next 12 months.
- Despite the clear risks from ransomware attacks, 38 percent of respondents say their company has not conducted any ransomware training for their staff.
For more information on ISACA’s ransomware survey, visit https://www.isaca.org/why-isaca/about-us/newsroom/press-releases/2021/it-security-and-risk-experts-share-ransomware-insights-in-the-colonial-pipeline-attack.