This past Friday, May 12th, ransomware known as WannaCry (also known as WannaCrypt or WCry) spread throughout the world, affecting more than 100,000 systems in 150 countries. Victims of the massive cyberattack included the NHS in the UK, cellular networks in Spain, universities in China and many other large organizations worldwide. For both franchisors and franchisees who are dependent on Windows systems, the attack highlights the significant risks and high costs associated with keeping cybersecurity on the back burner.
Fox partner Mark McCreary provided an update on the attack today on the firm’s Privacy Compliance and Data Security blog, and reflected on its impact after addressing client concerns on Friday and over the weekend.