Ransomware attacks are a threat to all businesses, regardless of size or sector. Worldwide Currencies did not consider themselves a target. Yet cyber criminals don't necessarily investigate targets prior to attack. Instead, their bots attack networks relentlessly and only learn about the business they have breached once they are inside.
Once 'over the wall', the criminals will then put a ransom value on the data. In the case of Worldwide Currencies, all data was encrypted including most backups and the ransom was substantial.
The downtime caused by this ransomware attack cost Worldwide Currencies a great deal in lost trading revenue. It also caused a huge amount of stress. Further woe was added when they realised that the contract with their former IT partner did not clearly state accountability for security.
The more regulated a sector, the greater the need to work with qualified, experienced experts who hold accountability for the solutions they deliver. For true operational and technological resilience, a strategic approach to multi-layered security is essential.