Rise in Ransomware

Rise in Ransomware

April 11, 2019 | 5years | IT Manged Services

World Economics Forum named cyber-attacks as one of the top 10 significant risks worldwide. Ransomware is one of the scariest types of cyber-attacks due to the leverage it can have on your business both in terms of privacy and financial loss.

What is Ransomware?
Ransomware is a type of malicious software that renders your PC and/or documents inaccessible. Hackers can then charge you to give you access back to your data. Charges are anywhere between a few hundred for individuals and tens of thousands, even millions, for larger organisations. There are now over 120 separate types, or ‘families’, of ransomware available and clever hackers can use these to essentially blackmail you or your company.

Why is Ransomware so Dangerous?
Ransomware is extremely dangerous as it is so easy for hackers to implement. This is due to the many new payment gateways available and the increased ease hackers have to hide their malicious code. Bart Parys who helps maintain the growing list of ransomware says that “return on investment is very high” which inevitably increases the number of offenders.

Why is Ransomware Rising?

New ransomware families such as CTP-Locker and CryptoWall are contributing to the recent rise in ransomware according to McAfee. On top of this according to AJ Samani, CTO for Europe at Intel Security, “Ransomware attacks have also become easier than ever to carry out because of crime ware services that provide attackers with user-friendly graphical user interfaces or consoles to customise attacks,”.

How to Protect Yourself and Your Business against Ransomware
Cyber criminals are becoming more and more aggressive and are increasing the frequency of online crimes. This can pose serious threats for your company. However, good IT practices can keep you safe. At Active Office we can provide top end IT security systems to make sure your data, and your client data, is secure from the rising threat of cybercrime.
If you are concerned about the safety of your business data, get in touch with Active Office IT to book an audit of your company's hardware and software.