4 Facts To Know About Ransomware Attacks

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There’s no denying of the fact, ransomware attacks are increasing every day. Because this method is simple, hackers can easily stalk your information in the pursuit of asking for a staggering amount of ransom.

Despite social media coverage, there are many aspects of this problem that a lot of people fail to understand.

In simple words, ransomware is an application that enables hackers and online predators to hack sensitive information of different organizations across the globe and hound them as long as they can.

Here are a few facts about ransomware you must know:

4 Facts To Know About Ransomware Attacks

4 Facts To Know About Ransomware Attacks

1. These Attacks Are Omnipresent

The truth about ransomware attack is, they are only getting worse and will continue to hound every business organization from across the globe.

According to a recent survey, around 93% of people agreed, ransomware attacks are carried out in the pursuit of chucking out a lot of money from different organizations.

This means, when a company is attacked through such an application, they are immediately contacted by the hacker and asked to produce money.

Furthermore, as technology continues to progress with several video tutorials being available to the public, anyone can master this art.

Shockingly, experts predict, the average ransom demanded by hackers is around $0.1 million. In some cases, hackers can demand even more than what you could ever think of.

2. Ransomware is Nothing Less Than a Business

Around 70% of experts claim, in 5% of the cases, the perpetrators don’t give the access rights to the company so that they can reclaim their information.

This means, even after the ransom has been paid, the perpetrators will not leave you until they demand more money, and you pay it while it seems that the victim is at the receiving end of the benefit, but in reality, it is all about the hacker to comply.

This can cause massive damage to the company’s reputation, especially one that handles customers’ data.

For instance, if an e-commerce company is hacked, the customers will lose trust and look for other options around. This is the main reason why a lot of companies end up becoming bankrupt.

Hackers who have all the time in the world can easily make millions of dollars’ worth of money, simply by blackmailing firms while sitting on their couch.

3. This Problem Should be Treated Like a Flu

Educating employees about phishing attacks and installing the latest antivirus software on their computer systems is the responsibility of any firm.

If you’re a business owner, you cannot risk a lot of company information at the hands of naïve employees.

Just as you prepare for the flu, you need to be mindful enough when catering for phishing attacks and ransomware applications. The easiest way for hackers to dive into your system is through an email.

Train your employees about responding to professional emails and chucking out clutter from their inbox in case of skepticism, conduct a campaign to raise awareness about this issue amongst the employees.

4. Hackers Depend on Ecosystem Support

Although you might think, hackers only rely on the skills they know. In reality, they need a lot of support from a plethora of people on the internet. This list is inclusive of forensic experts, bitcoin brokers, insurance underwriters, and breach lawyers.

This means they cannot make a move unless they don’t have enough information about everything they’re going to put their hands in. Unfortunately, there are a lot of IT experts who are involved in assisting such people online.

So, unless the government doesn’t step forward to eradicate the real criminals, it is hard to say if ransomware attacks are going to end any sooner.

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Author: Jessica Davidson