American Banker, February 22, 2022, Ransomware attacks are rising, payment security consortium warns
A payment security standards group released a warning this month about the growing threat of ransomware, echoing forecasts from the U.S. government and others that an uptick in such attacks, which coincided with the pandemic, will likely continue.
The Payment Card Industry Security Standards Council, formed by Visa, Mastercard and other major credit card companies in 2006, said Feb. 10 its ransomware bulletin was one of only two it would release this year. The National Cybersecurity Alliance joined the standards council in releasing the notice.
Lance Johnson, executive director of the PCI Security Standards Council, said that as working from home became commonplace during the pandemic, there has also been “a significant increase in ransomware attacks.” According to the bulletin, “cybercriminals see new opportunities due to the disruption created by the global COVID-19 pandemic.”
As to the kinds of entities at risk, Lisa Plaggemier, the executive director of the National Cybersecurity Alliance, said that all organizations, “large and small, public and private” face the threat of ransomware.
