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Ransomware on the Rise


Wyckoff, New Jersey, native Brent Potter graduated from Fairleigh Dickinson University with a bachelor of science in electrical engineering and technology. He joined Morgan Stanley in 2000 and has since held various leadership positions within the company, including the firm’s client technologies and entitlements solution departments. In his current role, Brent Potter serves as the company’s vice president of vulnerability management.

By its very nature, cybersecurity is an ever-evolving landscape that requires security professionals to maintain constant vigilance. One troubling recent trend is the rise in ransomware applications affecting the commercial marketplaces.

Data published by the Cyber Threat Alliance reveals that more than $325 million in “ransom money” has been paid by companies who have fallen victim to the CryptoWall v3 threat. These types of attacks sequester important files through encryption and then hold the data ransom until the affected parties pay the “ransom” to unlock them. These attacks are expected to escalate in the next year, because many businesses are apt to simply pay the ransom as it’s the quickest way to regain access to their data.

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