IDX’s CEO, Tom Kelly, Discusses REvil’s Recent Disappearance and the Current Cybersecurity Climate

Recently, the perpetrators behind the JBS Foods and Kaseya ransomware attacks disappeared. This ransomware gang, known as REvil, has mysteriously vanished, leaving cybersecurity experts shocked and at a loss to explain the disappearance. The disappearance was also noted to have occurred shortly after President Biden and Vladimir Putin met at the G7 summit to repair relations.

Tom Kelly, president and CEO of IDX, interviewed with Price of Business host Kevin Price to analyze both REvil’s disappearance and the ongoing threats facing consumer digital privacy daily.

Although REvil has disappeared, Kelly explains how they will most certainly be back, possibly with a different name. As these attackers were able to collect sensitive information from companies, Kelly also points out that sometimes attackers are not just focused on acquiring personally identifying information (PII) but can also be focused on harvesting data and utilizing it for ransom payments in the future.

With the recent attacks crippling America’s infrastructure, Kelly also shares that cybersecurity is top of mind this year for Congress and that legislation on the table in Washington D.C. is likely to move the needle for cybersecurity. Congress may also be poised to mandate that companies disclose digital attacks and if any PII of customers has been compromised.

Our country’s digital infrastructure, both public and private, are dangerously vulnerable to hackers and ransomware gangs. What’s more, approximately 85 percent of America’s critical infrastructure is privately owned. That means there are very few enforceable cybersecurity standards or guidelines and very little government oversight when cybersecurity incidents occur. Organizations should make cybersecurity a major internal priority. Software updates, cybersecurity training and password protection are easy but crucial steps in protecting your organization from cybercrime.