What Is Ransomware and How Does It Affect Your Business?
Ransomware is a type of malware that encrypts data on a computer. It usually demands that the victim pay a ransom to get the files decrypted. However, there are some exceptions to this rule.
Ransomware can impact all industries. For example, it’s a threat to healthcare, transportation, and education. Moreover, it’s a scourge on global infrastructure. In fact, it has been a problem for years.
However, with the rise of cryptocurrencies, ransomware has taken a turn for the worse. Cryptominers now use ransomware to mine digital assets. That means that the transactions are nearly impossible to track.
Ransomware has become more sophisticated and is now targeting specific industries. These include transportation, agriculture, and government. There’s also a growing trend to target organizations that have a large amount of sensitive information on their systems.
One of the most notable cases of this type of attack was WannaCry. The attack targeted Microsoft Windows operating system and affected more than 300,000 systems worldwide in 2017.
Initially, ransomware targets individual systems. But as time goes on, it targets entire enterprises. Several variants have emerged since then.
When first introduced, ransomware typically demands only a few hundred dollars. But the demands often increase before the payment is due. This makes paying a ransom a risky strategy.
The good news is that there are ways to avoid getting hit with ransomware. First, it’s important to keep up with the latest versions of antimalware software. Second, be vigilant and stay away from unsolicited links and attachments in emails. Third, report any incidents of ransomware to law enforcement.