• About
  • Subscribe
  • Contact
Friday, May 9, 2025
    Login
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
No Result
View All Result
Home Technology Security

Ransomware tops emerging risks in Q3 2021

FutureCIO Editors by FutureCIO Editors
October 22, 2021
Photo by Anna Nekrashevich from Pexels

Photo by Anna Nekrashevich from Pexels

Gartner’s latest Emerging Risks Monitor Report says the threat of “new ransomware models” was the top concern facing executives in the third quarter of 2021.

Matt Shinkman

“The negative impact of evolving ransomware attacks is seen as so severe by executives that it tops a notable list of risks related to an ongoing pandemic and the disruption of the global supply chain,” said Matt Shinkman, vice president with the Gartner Risk and Audit practice.

The risk of new ransomware models made its debut in the top five emerging risks in the third quarter as the previous quarter’s top risk, “cybersecurity control failures,” has matured into an established risk after consecutive quarters being tracked by the Emerging Risks Monitor Report.

The remaining risks in the top five positions were all related to the pandemic and its implications for work (see Table 1).

Gartner 3Q 2021 emerging risks

The rise of new ransomware models as a top threat to organizations in many ways tracks the growth in popularity of cryptocurrencies that have strengthened the anonymity of attackers, while also providing new models to extort victim organizations.

The ransomware business model has become more specialized and otherwise efficient, including “ransomware-as-a-service,” and demand for bitcoin payouts, resulting in a proliferation of attacks.

The technology for the attacks themselves also evolves, with viruses that linger and infect backup systems, do not rely on phishing as a vector, harder-to-identify viruses such as “fileless” and “crypto-jacking” attacks.

Shinkman added that while new models of ransomware attacks are frightening, the consequences for organizations are even worse.

“Prolonged operational delays, data loss and exposure, as well as the reputational damage that follows, present potential existential risks to an organization that executives are all too well aware of, especially if the attacks occur as a result of inadequate cybersecurity controls,” he continued.

Pandemic risks linger

As executives grapple with cybersecurity risks, disruptions from the threat of COVID-19 becoming endemic mounts. Concerns related to talent, global supply chain disruptions, delays to returning to the office and implementation of vaccine mandates were all indicated as prominent risks by senior executives polled in 3Q21.

Shinkman opined that the early calculus of how best to return employees to the office has been supplanted by a range of concerns around ongoing hybrid work disparity, a lack of effective training and development in such an environment and in many cases, historic levels of employee turnover.

“Managing new working models in an ‘endemic COVID-19’ environment is clearly going to be a more difficult scenario than simply the ‘post-pandemic plans, which many executives were relying upon just a few months ago,” he concluded.

Related:  5 trends to drive tech innovation through 2030
Tags: COVID-19emerging risksGartnerransomware
FutureCIO Editors

FutureCIO Editors

No Result
View All Result

Recent Posts

  • ARTHALAND chooses OutSystems to advance real estate sustainability
  • Experts warn against AI-powered deepfake impersonation scams
  • Dropbox updates universal search and knowledge management product
  • Agentic AI-powered AppSec platform launched for the AI era
  • IDC forecasts GenAI alone will grow at a 59.2% CAGR

Live Poll

Categories

  • Big Data, Analytics & Intelligence
  • Business Applications & Databases
  • Business-IT Alignment
  • Careers
  • Case Studies
  • CISO
  • CISO strategies
  • Cloud, Virtualization, Operating Environments and Middleware
  • Computer, Storage, Networks, Connectivity
  • Corporate Social Responsibility
  • Customer Experience / Engagement
  • Cyber risk management
  • Cyberattacks and data breaches
  • Cybersecurity careers
  • Cybersecurity operations
  • Education
  • Education
  • Finance
  • Finance & Insurance
  • FutureCISO
  • General
  • Governance, Risk and Compliance
  • Government and Public Services
  • Growth Strategies
  • Hospitality & Tourism
  • HR, education and Training
  • Industry Verticals
  • Infrastructure & Platforms
  • Insider threats
  • Latest Stories
  • Logistics & Transportation
  • Management Leadership
  • Manufacturing
  • Media and Telecommunications
  • News Stories
  • Operations
  • Opinion
  • Opinions
  • People
  • Process
  • Remote work
  • Retail & Wholesale
  • Sales & Marketing
  • Security
  • Tactics and Strategies
  • Technology
  • Utilities
  • Videos
  • Vulnerabilities and threats
  • White Papers

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO

Categories

  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Subscribe