During Thanksgiving weekend 2016, workers at the San Francisco Municipal Transportation Agency (SFMTA) received a rude awakening about just how powerfully cybercrime can affect the "real" world.
On Nov. 26, the SFMTA discovered it was the victim of a malicious ransomware attack that froze all of its office computers, internal computer systems and computers inside station agent booths, where an ominous message flashed across computer monitors: "You Hacked. ALL data encrypted."
If that scenario sounds like fiction, it isn't. The perpetrator demanded the transit agency pay 100 bitcoin (about $73,000 in real-world funds) to have its system returned to normal. Ransomware attacks occur when a user unknowingly downloads the malicious software (or "malware") on their computer, control of which is then seized by the party who sent the ransomware. The ransom is then requested.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.