Posted by: Heather Shy on November 10, 2016 at 12:32 pm
Ever wonder about the fallout from a ransomware attack? Lansing Board of Water & Light was hit last spring and filed a $1.9 million dollar insurance claim, plus a $100,000 deductible, plus another $500,000 in uncovered costs. On top of all that, they paid the ransom of $25,000.
Total price? $2,525,000
We don’t know why Lansing BWL wasn’t able to recover their data and restore their network without paying the ransom, but it’s a sober warning to all businesses about the importance of excellent data backups and knowing what you’re opening.
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Source: Lansing State Journal