News and Updates on Information Technology

United States – City of Lafayette, Colorado

Exploit: Ransomware
City of Lafayette, CO: Municipal Government

Risk to Small Business: 2.101 = Severe

The City of Lafayette, CO paid $45k to cybercriminals to restore access to municipal computers after a successful ransomware attack shut municipal networks down including city emails, phones, online payments, and reservation systems. The cost of restoration and the impact of the shutdown on city services impacted the city’s calculations when choosing to pay the ransom or restore from backups.

Individual Risk: 2.801 = Moderate

City officials say that credit card information was not compromised, and there was no evidence that personal data was stolen either, residents should monitor their accounts for suspicious activity as a precaution.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Ransomware can be so damaging that paying the ransom is less than the cost of recovery. Without adequate protections in place including updates security awareness training and access controls, organizations (and their budgets) can take a big hit from ransomware.