#WannaCry: Lessons Learned and Implications

The recent large-scale WannaCry attack underscored the financial and businesses disruption harm that cyber-attacks can cause.

The recent large-scale WannaCry attack underscored the financial and businesses disruption harm that cyber-attacks can cause. This pandemic cyber-attack, which highlighted the increased use of criminal ransomware and the proliferation of military-grade cyber weapons, serves as an opportunity to recognise the following:

• The risk of cyber-caused business interruption (cyber BI) is growing, and demands more attention from business leaders and risk professionals.
• Large-scale, global cyber-attacks will continue to occur and emerge without notice.
• Even relatively unsophisticated attacks can cause significant financial damage under the right conditions.
• More extensive attacks leveraging more powerful cyber weaponry should be expected.
• Routine cybersecurity “blocking and tackling” activities — including software patching, employee cybersecurity training and awareness, cyber incident response planning, and other basic cyber hygiene activities — are essential to reducing risk, yet often get insufficient attention.
• No organisation or industry is immune to the threat of a cyber-attack.

To learn more, read our latest briefing which was prepared by Marsh’s Cyber Practice and Marsh Risk Consulting’s Cybersecurity Consulting and Advisory Practice.