MGM's ransomware attack in September is expected to have $100 million negative impact for Q3 due to cleanup costs and lost business. The company believes that its cybersecurity insurance will cover nearly all of the ransomware attack's associated costs.
After spending $48 million, Irish government officials say the national healthcare system requires more than $100 million to address the impact of the Conti ransomware attack.
2019 has seen ransomware costs higher than they ever have been and are expected to increase in 2020. It needs to become an unprofitable business to stop the attacks from hackers.