New data indicates that school districts have become highly susceptible to online exploitation, emerging as the primary target for hackers. According to a recent global survey conducted by the British cybersecurity company
Sophos, a staggering 80% of schools experienced ransomware attacks last year, representing a significant increase from the 56% reported in 2021. This doubling of the victimization rate over two years has led researchers to label ransomware as the most significant cyber risk faced by educational institutions today.
Comparing various industries, schools fared the worst in terms of victimization rates, surpassing even sectors like healthcare, technology, financial services, and manufacturing.
The survey, which included responses from 400 education IT professionals worldwide, revealed that United States institutions are particularly attractive targets for hacking groups, especially since the events surrounding Russia's invasion of Ukraine.
Two factors have made schools especially vulnerable to cyber threats in the United States. First, the cybersecurity measures in educational settings often lag behind those in major businesses, such as banks and technology companies. Second, schools prove to be easy targets for exploitation due to their willingness to pay ransoms.
Last year, nearly half of the attacks on schools resulted in ransom payments, further enticing threat actors. Unfortunately, this combination of weak defenses and a readiness to pay has made schools a "double whammy" for hackers, according to Chester Wisniewski, the field chief technology officer of applied research at Sophos.
The motivation to pay ransoms seems to be influenced by insurance coverage. In districts with standalone cyber insurance, 56% of victims paid the ransom, while those with broader insurance policies covering cybersecurity saw a payment rate of 43%. Insurance companies often cover ransom demands, giving them significant sway over which districts comply with the extortion demands.
Elder, a school representative, acknowledges the difficult decisions schools face when dealing with ransomware attacks. While it is essential to safeguard confidential information and protect people, the pressure to manage resources and finances can make the choice challenging.
Ultimately, the data suggests that schools must prioritize and strengthen their cybersecurity practices to avoid falling prey to hackers and ransom demands.
Relying on insurance alone may not provide a comprehensive solution, as hackers continue to exploit vulnerabilities, and insurance companies struggle to keep pace with evolving threats.