Ransomware is a lucrative cybercriminal enterprise. Although there is much awareness, it poses a significant risk to businesses. According to figures from the FBI based on Q1/2016 statistics, cybercriminals are set to extort $1bn globally this year.
Many have tightened up IT security practice. However, the number of UK companies falling victim is nearly 20% higher than the global average. This suggests UK companies are being more strongly targeted or have poorer IT security practice. Preparation is pivotal in preventing your company falling victim to a ransomware attack.
A ransomware attack is likely to cause significant disruption unless you accede to the attacker’s demands. Many have chosen to pay because the cybercriminals’ modus operandi seems to have been to launch mass attacks and ask for modest amounts, typically $500 (£380).
However, this strategy is changing and there is an emphasis on launching more targeted attacks on fewer organisations but demanding higher sums. Paying might not be an option if the amount is financially harmful to business finances.
To be clear, Paralogic doesn’t endorse paying ransomware demands. It’s safe to say that like many other risks that need to be managed around business technology, the prevention of ransomware attack is better than cure.
Maximising the ability to avoid becoming a victim of a ransomware attack is a matter of adopting key practices, and deploying and integrating the right technology tools. These include:
Paralogic helps smaller, expanding and mid-sized businesses to defend ransomware attack by evaluating the risk, identifying gaps in your countermeasures and then deploying and integrating the appropriate technology tools.
We help over 1000 businesses to get more out of their investment in business technology. To find out more about how we can help you to defend a ransomware attack simply get in touch today.
Click here to download our FREE ‘Client security briefing: Defending the ransomware threat’.
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