The FBI says there are approximately 4,000 ransomware attacks each and every day – bringing damages to around $1 billion annually. It’s time to plan ahead.
Ransomware is growing in both the frequency AND the sophistication level of attacks. Cyber Security Ventures reports that another business falls victim to a ransomware attack every 14 seconds with expectations of increasing to every 11 seconds by the year 2021. Why is ransomware growing so fast? Cybercriminals can make a fairly high amount of money from performing a single attack, let alone multiple at a time. If they manage to successfully attack a company, every single piece of data is incredibly valuable on the dark web. Just take a look:
● Social insurance numbers: $1 each
● Driver’s license: $25 each
● Online payment login information: $20 – $200 each
● Passports: $1,000 each
● Credit or debit card details: $5 – $115 each
● Medical records $100 – $1,000 each
Now that we’re starting to paint a picture of WHY ransomware is on the rise, let’s take a look at how ransomware infects the network.
Ransomware essentially encrypts your data and/or systems through malicious means, then demands a ransom for the decryption key. This leaves businesses held hostage to the cybercriminal. So how do they gain access to your network to complete a ransomware attack in the first place?
There are many ways for cybercriminals to gain access and install some sort of malware onto your network. Unfortunately, small to midsize businesses don’t always have the budget or expertise to stay aware of evolving threats and implement the right security measures to stay safe.
As mentioned above, there are many ways a cybercriminal can hack your network. This means a multi-layered approach is required to prevent a ransomware infection. An IT company that specializes in cybersecurity can help you ensure you’re safe with: