Ransomware hits huge international conglomerates

Episode 1714 (51:35)

Types of Ransomware

Norsk-Hydro, a huge international conglomerate was hit with ransomware, costing the company $60 million. The malware came from an innocent email that had been intercepted and altered to include malware that infected the network when opened. Encrypting all data. The malware infected the company in December but wasn't triggered until March. Norsk-Hydro had a cyber insurance policy that consistently tests the network, but they were infected anyway. The company decided not to pay and relied on backups to restore their network. But the damage had been done as the network was down for weeks.

Garmin has also been hit by the same ransomware, and the hackers are demanding $10 million to unlock it. And the company is believed to be considering paying the ransom, which the FBI says is a bad idea because there's no stopping them from being attacked again.

Who's doing this? Leo says that an Organized Crime syndicate known as Fin16 is behind the attacks.