Ive got your data how much will you pay

I’ve Got Your Data, Your Business has Come to a Standstill, Now How Much Will You Pay?

Billions of dollars have been paid out in ransomware attacks. Last year showed attacks were at an all-time high, with over 184 million ransomware attacks. Small businesses are just as susceptible as large businesses.  Hospitals, police stations, and entire cities have been brought to a halt by ransomware.  About 50% of victims pay the ransom, this guarantees it’s not going to subside anytime soon. 

Ransomware is a type of malicious software, or malware, designed to deny access to a computer system or data until a ransom is paid. That’s right; everything today is about money. 

Ransomware typically spreads through phishing emails or by unknowingly visiting an infected website. 

Yes, this is why your company requires you to take all those data privacy e-learnings! A single employee falling for a phishing attack puts the entire organization at risk.

How does it work? Once the email attachment is opened or the infected link is clicked, the attack can begin immediately, or it can be programmed to start at a select date and time. During the attack, the computer(s) lock-up and malware start encrypting the entire hard drive. And finally, it displays a message detailing the type of ransomware and how the individual or company must pay for the release of their data. The time frame to pay the ransom is typically 72 hours.

Here are two essential ways to protect yourself from ransomware attacks:

  1. Know what social engineering is and how it’s used against you. Social engineering is used to trick people into opening attachments or click on what appears to be legitimate links. Protect yourself and your company’s network and be extra cautious before opening attachments or clicking on links.
  2. Keep your devices and apps updated. This will not only minimize your risk of a ransomware attack, but it also protects you from most of the other malicious viruses.

As ransomware attacks become more sophisticated we see them spreading to mobile devices.  Future state, think about connected cars.  How might it look when individuals start to be locked out of their own car until a ransom is paid – this is not going to stop and it’s going to get ugly.

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