Ransomware Attack Proving a Bonanza for Network Security Firms

Ransomware Attack Proving a Bonanza for Network Security Firms

The “WannaCry Ransomware” attack that spread across the world on Friday has locked up more than 200,000 computers across 150 countries by now. These systems can only be unlocked by paying the ransom of 300 to 600 USD.

This massive cyber-attack has made businesses more wary about the installation of an official MS17-010 patch from Microsoft to prevent any chances of malware vulnerability in the future. Also, chief technology officers across the world are brainstorming the ways to update security protocols.

In this scenario, cyber-security companies are likely to witness growth in terms of bookings. Sophos, the famous cloud security firm of London is enjoying a jump of more than seven percent for its shares, while for another renowned security firm, NSG Group, the shares went high by three percent in the last two days.

F-Secure, a Finnish digital security firm, jumped up in the share market by 5.1 percent, which is a record high in 16 years. 

Small and mid-sized companies with weaker IT infrastructure have been affected largely by this ransomware attack, and are looking out for cloud network security options in this situation of chaos. This increased inclination towards cloud network security has proved bonanza for firms that provide cloud network security services.

The European cyber security market, which was worth $22 billion in 2016, is expecting a noteworthy jump after this incidence. The cyber security market in other parts of the world, including India, is prepared to provide a robust cyber-security solution to more businesses after this incidence of ransomware.

Why is India Among the Worst-hit Countries? The impact of “WannaCry ransomware” can be witnessed across 150 countries, with the Asian and European corporate world and government bodies to be affected the most.

While on one side, national health services and other critical functions are being affected in European countries, India is also facing the brunt of this massive cyber-attack. India is the third most affected country from WannaCry, following the Russian Federation and Ukraine.

In India, the Windows XP operating system is still used widely, leaving many loopholes to be exploited by the WannaCry ransomware. Also, Microsoft security patches are not installed in most of the systems in India. Unsupported versions of Windows, such as, Windows XP, Vista, Windows 8, Server 2003 and 2008 are to be affected the most by the ransomware spread.

According to IANS, computers across the 18 police units in Andhra Pradesh have been affected by the ransomware spread, and the impact is likely to increase with Kill Switch failing to stop the WannaCry havoc.

About The Author
Kalpana Araya
Kalpana Araya Kalpana is an inquisitive tech enthusiast who loves reading & writing everything under the sun. Currently writing for Tech, SAAS, IT Hardware and Software products. She is a Digital expert with 5+ years of experience in the industry.