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Published by Risk Management Partners on November 30, 2022
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Cyber Attacks

Home > Cyber Attacks

Introduction

Ransomware is a type of malicious software developed by those with criminal intent. If downloaded into IT systems, the software is programmed to lock the target’s computer system or network, blocking access to important systems and data. The threat usually contained within ransomware attacks is that the locked information will be irrevocably damaged or destroyed if financial demands are not met within a prescribed period.

In 2016 the UK started officially surveying company’s and charities to assess how cyber security was persevered and prioritised in organisations within the UK. Trends in the statistics released in 2024 show that:

  • Half of businesses (50%) and around a third of charities (32%) report having experienced some form of cyber security breach or attack in the last 12 months
  • This is much higher for medium businesses (70%), large businesses (74%) and high-income charities with £500,000 or more in annual income (66%)

In February 2020, a cyber-ransomware attack was carried out on a Borough Council in the Northeast of England. The attack rendered around 135,000 people without access to online public services. The council’s website and all computers and IT infrastructure were affected. Online appointment bookings, planning documents, social care advice and council housing complaints systems were among services that were no longer accessible. Frontline services continued with staff reverting to using pen and paper, with the council using social media platforms to communicate with the affected population.

In October 2020, a London Borough Council experienced a serious ransomware attack that paralysed many of its services. Systems which residents used to pay rent and council tax, as well as accessing housing benefit payments were all affected. Months after the attack it was discovered that data stolen during the cyberattack has been published by the criminals responsible for the attack on the dark web.

The costs of coping with an attack and restoring systems can be significant. The Wannacry ransomware attack that seriously affected the NHS several years before cost around £92m according to a Department of Health report. The attack on the London Borough Council reportedly cost the council around £12m, whereas the attack on the Borough Council reportedly cost the organisation around £8.7m. In the case of the Borough Council, they did eventually receive a support grant of £3.68m from the Government in connection with the costs incurred by the cyber-attack.

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