Article by Robert Scammell – Verdict
Ransomware is lucrative for cybercriminals but crippling for businesses. And all the while it continues to be profitable, targeted ransomware attacks are likely to continue to grow in number.
You’re sat tapping away at your computer when the machine becomes unresponsive. A message glares from your screen: ‘Oops! All of your files are now encrypted.’
You look around the office and see the same on other screens. All of your files are gone, unless you cough up some Bitcoin to unlock them.
What now?
First of all, you’re not alone.
There were 151.9 million ransomware attacks in the first three quarters of 2019, according to cybersecurity firm SonicWall. And the cost, from downtime to reputational damage, is expected to surpass $10bn this year.
The most common way the file-encrypting malware infiltrates an organisation is through a phishing email containing a malicious link, as well as lax Remote Desktop Protocol security – the mechanism that allows computers to connect across a network.
Ransomware is a constantly evolving threat. While the infamous WannaCry malware that crippled the NHS 2017 cast a wide net, today ransomware is less frequent but more targeted to maximise profits from victims.
And with new strains becoming available on the dark web all the time, staying ahead of the cybercriminals is a never-ending battle.
Of course, the surest ways to protect your most important files is to invest in robust cybersecurity and regular cyber training.
But it’s too late for that now – your files are encrypted and the clock is ticking.