Ransomware is a type of malware that can infect a network and encrypt all data, denying access to all files unless a fee is paid to a cybercriminal, usually with a cryptocurrency like bitcoin. In theory, a decryption key will be provided when the demand is met.
Ransomware allows hackers to hold your network’s data hostage until a ransom fee is paid. Cyber criminals are becoming more creative and sophisticated in their use of ransomware, attacking networks, encrypting files, stealing sensitive data and extorting millions from organizations around the world.
Could your organization be next?
- 56% of all malware attacks are ransomware
- 30% of successful 2019 ransomware infections were due to weak passwords
- 43% of cyber attacks are aimed at small businesses, but only 14% are prepared to defend themselves.
- 60% of small businesses shut down within six months of being victimized
- 966 government agencies, educational institutions and healthcare providers were hit by ransomware attacks in 2019 – causing up to $7.5B in losses
- $6T could be the annual toll of global cyber crime (including ransomware) by 2021 – up from $3T in 2015
- $25B estimated 2019 ransomware losses for healthcare industry.
- $41K the average cost to restore data by Q3 2019, up from $6K a year earlier.
Ransomware-as-a-Service (RaaS) is a service that is actually offered online – including user tutorials – that helps cybercriminals tap into the lucrative ransomware business.
Whether your business is big or small, your cyber risk is great.
- Ransomware could strike your business with the next email you open.
- Understand the risks so you can be prepared to help protect against them.
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