Ransomware and SMBs
Ransomware is malware that encrypts files, making them inaccessible, and demands payment (usually in hard-to-trace digital currencies) to decrypt the data. Cyber criminals often target businesses, especially small and medium-sized business (SMBs) because they’re less likely to have the resources and expertise to protect against these attacks. SMBs are also more reliant on their computer systems to manage data and communicate, so any downtime can have significant impacts on their bottom line.
Whether or not victims choose to pay the demanded ransom, they should report it to law enforcement. Not only does this help ensure the attackers are brought to justice, but it’s the right thing to do. The FBI warns that paying a ransom just encourages these criminal activities, and it may even go into the pockets of terrorist organizations, money launderers, and rogue nation-states.
Some of the most devastating ransomware attacks involve public services such as schools, healthcare and local government, which people with lower incomes rely on more than those in higher-income communities. Scholars have argued that cybercrime, including ransomware, therefore contributes to inequality and undermines the social cohesion and stability of communities with a range of vulnerabilities.