Hello everyone and welcome back to the Cognixia podcast. The renowned UK security think tank, the Royal United Services Institute has published new research detailing the possible effects of ransomware attacks on businesses and staff, society, the economy as well as national security. Interestingly, it also highlights an impact that not a lot of us usually consider when we talk about the cost and effects of ransomware – the impact on physical and mental health. In today’s episode, we talk about these hidden costs of ransomware attacks, so stay tuned.

Who is the Royal United Services Institute?

The Royal United Services Institute or RUSI is the world’s oldest and the UK’s leading defence and security think tank. Its mission is to inform, influence, and enhance the public debate on a safer and more stable world. It is a research-led institute, that produces independent, practical, and innovative analysis to address today’s complex challenges.

Ransomware incidents are a scourge in our society globally. A ransomware attack takes a visible toll on organizations, individuals, the economy, and even national security. But there are some intangible and not so easily visible impacts of ransomware attacks too. These include physical, financial, reputational, psychological, and social harms. Ransomware is a risk to everyone, whether you are an organization or an individual, whether you are a small startup or a gigantic corporation. The financial costs and losses resulting from a ransomware attack can threaten the entire existence of the organization. Besides, it damages the reputation of the individual or organization too, making them look unprofessional or incapable and exposing sensitive data to vulnerabilities and exploitation.