December 05, 2017
Ransomware is now considered to be one of the biggest threats in cyber space – and workplaces of all sizes are at risk.
During the first quarter of 2017, organizations were attacked by ransomware more than any other type of malware, according to Malwarebytes research. Whether it got in by spam email or an exploit kit, the research showed that roughly 60% of 'malware payloads' were ransomware.
There are two types of ransomware. 'Encrypting' ransomware blocks system files and demands payment for the decryption key. 'Locker' ransomware locks victims out of their operating system and demands a ransom to unlock the infected computer.
Unfortunately, even with payment, research has shown there is no guarantee that attackers will release information.
Global ransomware damages were forecast to exceed $5 billion in 2017, according to the Ransomware Damage Report by Cybersecurity Ventures. That’s 15 times more than just two years earlier, and it doesn’t include actual ransom payments.
The average ransom demand has gone up to $1,077 according to the Symantec 2017 Internet Security Threat Report (and that figure is 3 times the average demand in 2015).
The effects of ransomware on SMBs can be devastating. A 2017 report from Osterman Research showed that almost a quarter of small and medium businesses (with less than 1,000 employees) that experienced a ransomware attack in the last year had to stop business operations immediately. On average, small companies lost over $100,000 per ransomware incident due to downtime.
Here are ways a company can protect their devices from ransomware.
To learn more about how Shred-it can protect your documents and hard drives, please contact us to get a free quote and security risk assessment.