Ransomware is not just “trending” among hackers. The first known case occurred in 1983 and, over the past 24 years, has evolved into cyber criminals’ most favored tool for making fast cash from unwitting businesses of all sizes.
How is Ransomware Different from Other Viruses?
Ransomware is malicious code that, when accidentally downloaded and run on a device, holds business-critical and/or private data hostage until a requested fee is paid, usually in bitcoin. Phishing, or, sending impostor emails with the intent of getting the end-user to perform a certain action, is the favored method for deploying ransomware code.
Ransomware differs from other security threats in its primary goal: to get a quick, untraceable payment from you. While the code may be dispatched in a similar way, other viruses and malware have different primary goals, such as spying on your behavior or stealing your information to use it.
Ransomware is Still Paying Off
Ransomware profited criminals $1 billion in 2016. Cyber attacks on small businesses of all kinds cost an average of $188,242 per breach in ransom fees, downtime, lost customers, and other revenue depleters.
Worldwide, organizations are increasing their cyber security spending. While a great portion of this spending is proactive, the bulk of this increase in cyber security spending happened in a desperate response to an actual security incident.
Take These 5 Steps to Protect Your Business Today
2. Reliable Backups – Use an image-based backup system.
3. Spam Filters & Phishing Alerts – Run your spam filters at the highest possible capacity.
4. Endpoint Security – Gain control over devices connected to your network.
5. Patching – Implement suggested software patches immediately.
How Do I Get Started?
Ask your IT manager or vendor how they are fulfilling all of the steps listed in this infographic. Take the time to identify any weaknesses in the solutions you currently use for vital elements such as backups and endpoint security.