Tag: cyber security

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What Y2K And 9/11 Could Have Taught Us About Managing The WannaCry Cyber Attack

Over the past week, countless organizations around the world were victims of a cyberattack involving WannaCry ransomware. While the EU’s law enforcement agency called the attack “unprecedented,” it was perhaps only unique in scale. In fact, this attack was neither sophisticated nor innovative. It had many precedents and was definitely preventable. For starters, according to numerous security analysts, WannaCry took advantage of a file-sharing vulnerability in Windows that was repurposed using commonly available “Ransomware-as-a-Service” to package the attack and allow it to support multiple languages simultaneously. To make matters worse, Microsoft had actually released a patch for these vulnerabilities in

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What the G7 must do for internet growth and security

In 2014, researchers from the World Economic Forum and McKinsey & Company projected that as much as $21 trillion in global economic value creation would depend on the robustness of cyber-security over five to seven years. That’s as big as the entire U.S. economy. To discuss the future of the Internet and its risks, IT ministers from the G7 countries and the EU gathered for the first time in 20 years. The information and communications technology (ICT) summit in Takamatsu, Japan, was held against a background of major cyber-security dangers including threats to critical infrastructure and mobile devices as well

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