Brazil’s JBS S.A., the world’s largest meat processing company, was targeted by a ransomware attack, shutting down the company’s operations in Australia, Canada, and the United States, with some fearing that a shortage in meat supplies and a spike in prices may soon follow. Another story that did not gain as many headlines was the announcement by the Massachusetts Steamship Authority that it was the target of a ransomware attack which affected its scheduling systems, but not vessel operations.
Ransomware attacks are continuing, and with no signs of letting up, business in all industries should take precautions to protect themselves from falling victim to these attacks which can lead to business disruptions, loss of income, and even reputational damage. The average ransomware recovery costs for businesses have more than doubled in the past year, from $761,106 in 2020 to $1.85 million in 2021.
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