How Ransomware Works and How to Protect Your Business From It
Did you know that more than 70 state and local government offices suffered ransomware attacks in 2019?
While many people believe that only large institutions become victims of ransomware attacks, statistics show that even local small government offices and businesses are becoming a target.
If you are a business owner, what can you do? How can you protect your business against the scourge of ransomware?
An important first step is to understand how ransomware works. Why not find out in our in-depth article below.
In Simple Terms: What Is Ransomware?
Ransomware is a form of malware that hackers implant in your system. It will prevent you from accessing some or all of your files until you pay a, usually high, ransom amount to the attackers.
The payment of this amount is often untraceable since it is sent to a cryptocurrency account. This has led to a surprisingly high rate of successful ransomware attacks with a low rate of prosecutions.
While you may have heard in the media about high profile ransomware cases, many small businesses are now becoming victims. Unfortunately for some businesses, it is very difficult to recover from an attack. There is a high rate of bankruptcy among ransomware victims.
How Could I Become a Victim of Ransomware?
Hackers are designing more and more sophisticated methods of attack. A common method is phishing attacks.
An email is sent to an employee asking for information. It appears to be legitimate. However, as the employee communicates with the sender of the email their network is infected with malware.
Attackers generally try to use social engineering methods like these to gain access to systems to lay their ransomware software.
What Types of Ransomware Exist?
Ransomware is an umbrella term that covers different types of attacks.
Here are just three:
Scareware
This is a low-level threat. You may receive a message stating that you have a virus or malware software on your device. However, you are able to continue working.
Screen Lock Attacks
Screen lock attacks are more serious. A hacker will gain control of your screen and claim that illegal activity has been detected on your computer.
They state that you will need to pay an immediate fine. Obviously, this is not a legitimate government intervention.
Encryption Ransomware
This is the worst-case scenario. A hacker encrypts your data and demands payment from you. The price is often high and you never really know whether you will actually get access to your files again.
How Ransomware Works and Much More
The ultra-connected world of 2020 offers greater business opportunities than ever before. However, as technology advances, criminals are constantly on the lookout to exploit flaws and openings with nefarious schemes.
Knowing how ransomware works and the latest ways to combat it could save you millions of dollars and prevent the bankruptcy of your business.
If you are interested in protecting your business from criminal activity, then we are here to help. We leverage our years of experience in the IT world to offer a range of products and services to businesses that will help them thrive in 2020.
Why not contact us or check out our blog to see how we can help you.