Allaying Ransomware Threat To Private Funds Amid Pandemic

Cybercriminals are targeting businesses of all kinds with ransomware attacks. As these attacks become more sophisticated, carrying the potential to effect a wholesale inability to access a firm's entire electronic infrastructure, ransom demands have increased — often reaching eight figures. Because these denial-of-access attacks have been so effective, making ransom payments has become mainstream in corporate America. In this article, partner Marc Elovitz and former Schulte lawyer Brian Daly and Edward Sadtler discuss how managers can increase their level of preparedness for a ransomware attack. Special counsel Kelly Koscuiszka and former Schulte lawyers Jennifer Gordon and Jaclyn Malmed assisted in the preparation of this article.