"As recent headlines would suggest, states and localities are increasingly under threat of ransomware assaults like the one on Atlanta in late March. But when it comes to the financial ramifications, the cheapest part of the whole affair is the ransom itself.
"In the case of Atlanta, hackers demanded $51,000 in Bitcoin.
Officials have not said whether they paid the ransom or not, but in the
days following the March 22 attack, Atlanta entered into emergency contracts worth $2.7 million to help restore the city's computer network.
"What's more, much of the system is still down. The city still can't
collect water and sewer payments online. These kind of delays add up,
says S&P Global Ratings analyst Geoff Buswick. 'The longer it goes
on,' he says, 'the more [likely Atlanta is to] waive fees or take other
measures. So the question becomes how long can they go without being
able to collect revenue normally.'
"Atlanta is far from the only government to be attacked. . . ."
A recent article in Governing Magazine reported on the increasing costs and concerns facing local and state governments as they address issues of information technology security.
To access the complete article, please visit:
Governing: As More Governments Get Hacked, Concerns Grow Over Mounting Costs (4 MAY 2018)
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