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What is Ransomware?

Ransomware is malicious software (malware) that works by gaining access to your computers or devices, locking and encrypting the data stored on it so you can’t use it. A ransom is then demanded, usually in cryptocurrency such as bitcoin, to unlock the data.

It often happens when the unsuspecting user downloads malware through email attachments or links which are then mistakenly downloaded by victims.

Every business whatever its size is at risk of a ransomware attack. Contact us to see how our security experts can help.

How Does Ransomware Work?

Ransomware is often designed to spread across a network, targeting database and file servers. It can quickly paralyse an entire organisation.

Though ransomware has been around since the 1980s, methods have become more advanced and it’s now a growing threat, generating billions of pounds in payments to cyber criminals and inflicting significant damage and expense for organisations.

Who is targeted?

Ransomware can spread across the internet looking for vulnerable targets but cybercriminals are also able to choose their victims, enabling cyber attacks on companies which can pay larger ransoms.

Small to medium sized businesses have increasingly become targets, probably because they are seen as a ‘soft touch’ with limited cyber security in place – with 63% of SME’s having reported being the victims of a data breach in the last 12 months

Ransomware and the Law

There’s currently no consensus on making the paying of ransoms illegal although law-enforcement agencies around the world are increasingly urging victims not to pay.

The Ransomware Task Force (RTF), a global coalition of cyber-experts, is lobbying governments to take action. It made nearly 50 recommendations to curb the increasing cyber attacks but failed to agree over whether countries should ban ransom payments.

How to Protect Your Organisation

Ways to secure endpoints include:

Email Protection

Preventing phishing emails containing malicious software from getting through to employees and clients (user training is critical to this),

Endpoint Protection

An advanced approach to endpoint protection that goes far beyond simple antivirus protection.

Secure boundary

A securely designed and boundary that is patched and maintained is critical.

Offsite Back-Up

A secure system so that if you’re attacked, your files are backed up in a safe place. Our 3-2-1 backup strategy states that you should keep: At least THREE copies of your data; Backed-up data on TWO different storage types; At least ONE copy of the data offsite.

help

FoxTech can help

We have decades of experience and in-depth knowledge of the security threats facing businesses and organisations today. To avoid becoming a ransomware victim, book a Cyber Security Review with us today.

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