Ransomware has quickly grown into a multi-billion-dollar industry, forcing a shift in how cybersecurity is approached, including the development of solutions such as Mandiant Threat Intelligence.
In the last five years, as profits for cybercriminals have soared, their operations have become more sophisticated, drawing more players into this expanding threat landscape, according to Brett Callow (pictured), managing director at FTI Consulting Inc.
“In 2019, the average ransom demand was 5,000 bucks and small businesses and home users were most victims. Today, it’s become a multi-billion dollar industry,” Callow said. “We see huge multinationals effectively being totally knocked offline. We see healthcare systems, entire healthcare systems of multiple hospitals being knocked offline. So ransomware now has morphed from being a small-scale operation to something that does put lives at risk.”
Callow spoke with theCUBE Research’s John Furrier and Savannah Peterson at mWISE 2024, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed the rise of …