Ransomware – How to Protect Your Business From Ransomware Attacks in 2021
Ransomware
The ransomware threat has grown by leaps and bounds in 2021, with high-profile attacks against critical infrastructure, private companies, and even municipalities grabbing headlines on an almost daily basis. Ransomware works by encrypting your data and then demanding an untraceable payment to unlock it. As the threat has matured, attackers have become more creative and sophisticated in their tactics, and victims often suffer substantial disruption to their business while bearing the cost of owning up to ransom demands that can run into the tens of thousands of dollars.
Public institutions are particularly attractive targets because they handle massive amounts of sensitive data that cybercriminals can sell, and they tend to have shoddy cybersecurity that’s ripe for attack. The same goes for healthcare organisations, whose patients’ lives are literally in their hands, making them more likely to pay a ransom. In addition, the influx of new technologies like the Internet of Things has led to an explosion in “bots” that can infiltrate networks undetected and take advantage of vulnerabilities.
Small and medium-sized enterprises are also popular targets because they typically have a lower level of security and are more prone to error than larger organisations. Additionally, many SMEs falsely believe they’re too small to be targeted and end up being easy pickings when cybercriminals can exploit a single weak password or flaw in unpatched software to gain entry to the system. Once inside, they can cause a significant amount of damage before users realise something is wrong.