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Johnson Controls says September ransomware attack cost them $27 million- BlackFog commentary

January 2024 by Dr Darren Williams, CEO and Founder at Blackfog

Johnson Controls recently revealed that a September 2023 ransomware
attack cost them $27 million, and they expect to see that number rise.
The Dark Angels threat group demanded a ransom of $51 million, but the
material impacts were primarily associated with the response and
remediation of the incident and insurance recoveries.
The commentary from Darren Williams, CEO
and Founder, BlackFog:

"The financial impact of the ransomware attack on Johnson Controls
serves as a cautionary tale to all businesses – the extortionate
ransom demand is really only the beginning of what is yet to come.

The price of Johnson Controls’ breach far surpassed the average,
$4.54 million [1], and is expected to continue to rise as the company
deals with the unknown cost of exfiltrated data and its impact. This is
a perfect example of why companies shouldn’t wait until they have
experienced a breach themselves to implement preventative strategies.
The adage “prevention is better than a cure” holds great
significance when it comes to cybersecurity, as ransomware is not a risk
that any business can afford to take."

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