Ransomware, a popular form of a cyber-attack usually involves criminals tricking their victims into installing malware. The malware causes serious issues for its victims by preventing them from accessing their files unless a ransom is paid to the criminal. An article on Inc. explains why ransomware is becoming more dangerous and how you can ensure your business does not suffer from its devastation.
2016 saw huge financial losses to ransomware, totaling approximately one billion dollars.
While ransomware attacks are nothing new, there has been a major change taking place in recent months, making these attacks a much more devastating risk.
Criminals are no longer adhering to their prior “code of ethics,” and, in many cases, even when ransoms are paid, attackers do not return access to files to their rightful owners.”
A survey conducted by Bitdefender and Spiceworks interviewed 250 information technology professionals working in small and medium-sized businesses to gain some insight on ransomware.
One in five SMBs had been infected with ransomware in the past year; of those, 38% paid the ransom (an average of $2,423). But, of those who paid the ransom – only 45% got their data back.”
Small businesses facing ransomware attacks are losing data they cannot recover, in many cases forcing the business to close its doors. Since paying the ransom demanded by a cybercriminal in a ransomware attack does not guarantee the restoration of the data, it is vital that businesses properly protect their data beforehand.
The time is here to educate yourself on ransomware. In addition, practicing proper backup procedures will go a long way in protecting your business. Backing up your data often and keeping it separate from the rest of your network is important, especially in the event your business would become infected with ransomware.