We saw ransomware attacks rear their ugly head within healthcare companies in 2016, and this year looks as though those threats will only increase. According to a recent report from the U.S. Government, there were nearly 4,000 ransomware attacks each day in 2016, quadruple the amount reported in 2015. 

Why? Follow the money. Credit firm Experian posits that 2017 will be even worse for the healthcare industry as hackers realize they can make more money stealing personal health information – 50 times as much – as they could with financial information. Stolen healthcare records can garner as much as $60 per record.  

Cybersecurity Ventures predicts that global annual cybercrime costs – including damage and destruction of data, stolen money, lost productivity, and theft of intellectual property, personal/financial data, embezzlement and fraud – will grow to $6 trillion annually by 2021.  

In particular, ransomware attacks will attract an average ransom of $300,000 per day, a tremendous increase from $670 in 2015. The result is that ransomware is on track to net organized cybercrime more than $1 billion according to a recent presentation by Gartner Research 

Add into the mix the rapid rise of big data, artificial intelligence, and internet of things, and you have a recipe for disaster when using traditional security tools. We know that cybersecurity expertise is hard to find and hire – a shortage of 2 million professionals by 2019 – so what can you do? 

Consider leveraging a managed security services provider that can extend your existing IT team, unburden it, and secure your electronic health information from hackers. Here are the four pieces you need to craft a comprehensive response to ransomware attacks: 

  • 24/7 Security Operations Center: Extend existing SOC engineers and analysts with next-generation software, runbooks, and dashboards.  
  • Security Analysis: Augment your existing IT security analyst team and scale resources quickly and easily to analyze threats in real time.  
  • Cyber Intelligence: Investigate cyber war attacker techniques, tactics, and procedures (TTPs) to know your adversary, stop existing attacks, and prevent future attacks.  
  • Rapid Incident Response: Build out your incident response team (IRT) by filling skills or personnel gaps in forensics, exploit analysis, or threat containment and removal.   

Healthcare organizations – possessing a voluminous amount of protected health, personally identifiable, and lucrative insurance information – are prime targets for ransomware attacks 2017. We’ll be discussing this at length with those attending HIMSS in February, the largest healthcare IT show in America.  

The good news is you don’t have to wait for HIMSS to learn more – contact us today so we can show you how our managed security services for on-premises or cloud environments will extend your IT teams, unburden them, and secure your data.    

US Cyber Vault is a leading sponsor of the Cyber Security Command Center at HIMSS 2017 in Orlando, FL - Feb 19-23 both in the Cybersecurity Command Center at Kiosk #376 - 13 and in our own flagship booth 487 right next to the Command Center.