In June 2021, the U.S. Subcommittee on Emerging Threats and Spending Oversight (ETSO) reported that the total cost of publicly known ransomware attacks on State and local governments in 2020 was nearly $1 billion. Despite this, ransomware attacks on U.S. cities and local governments are escalating. CISA reported that as of March 9, 2022, Conti ransomware attacks against U.S. and international organizations have risen to more than 1,000.
At the same time, organizations and agencies face a growing demand for digital connectivity driven mainly by the COVID-19 pandemic, which accelerated the public’s reliance on digital connectivity. As a result, security and risk professionals are under mounting pressure to minimize third-party cyber risk while increasing digital connectivity.
