Posts Tagged ‘ransomware’
Many of you probably live in fear. Fear of a data breach.
While a breach may sound innocent enough—simply someone on your team that might have lost, misplaced, or mis-transferred some data—your clients, patients and regulators may think otherwise.
In 2019, the average breach affecting relatively small organizations costed them the likes of $73,000. The cost of reputational damage to vendors and clients may actually be far greater.
I’m sure it’s of little surprise that in recent accounts with CEOS, their two greatest worries ranged from a list of technical-related developments that have recently arisen surrounding stolen and breached data and being victim of a ransomware attack.
Many CEOs know firsthand of their company experiencing a ransomware attack. Those that have lived through a ransomware attack understand the devastation and ruin involved in recovery efforts. When recovering from a ransomware attack, one thing is clear—there is no free lunch (everything will cost you).
Is your likelihood of a breach or attack REALLY that low?
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Phishing is the number one way ransomware is transmitted, and according to the Department of Homeland Security, businesses should be on high alert.
What can you do? What do you need to know to avoid being phished?
Let’s say it’s a Monday morning. You’re headed into work—there’s a light drizzle coming down and traffic is backed up from an accident at the large intersection close to your building.
Frustrated, you wait for the accident to clear and get to the office nearly 30 minutes late. You hurriedly rush in the front door and notice the receptionist gone from her desk. You look in a few more offices and no one is to be seen.
As you are heading to your office you notice everyone congregated in the lunch room. No one is smiling. Your accountant is crying—she’s exclaiming that all of the hours of work she’s put in (including overtime that weekend) are gone.
What’s going on?
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To pay or not to pay the ransom?
That has been a major hurdle for organizations across the US. Local governments, manufacturing, accounting, even hospitals—have all ended up concluding that paying the ransom was the only way to get their systems up and running.
This dilemma—the one in which you will have to make a serious decision about whether you pay criminals to give back your data or recover in spite of them and their threats.
While in general, the FBI has stated time and time again to NOT PAY THE RANSOM—because in doing so you are waving a big red target stating that you’re willing to pay—not to mention the fact that you’re filling their coffers and allowing them to grow they cyber crime businesses.
The reality in 2019 is that many folks have succumbed to attacks and now are paying hefty ransoms either because their cyber insurance providers told them that’s all they’d be able to cover or because they had no other options (they simply weren’t prepared for a recovery effort).
Scores of municipalities and businesses caught with their networks frozen and ability to work halted have made the hard decision to pay the ransom.
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