When Will Ransomware Give us a Break?

25 Sep

Ransomware certainly isn’t new to us. It seems to be continuously wreaking havoc on the devices of private individuals and companies, and online users are learning the perils of irresponsible online behaviour.

With so much attention given to Ransomware in recent months, one would think that it would be under control by now, but the scary reality is that it is not. In fact, Ransomware attacks have reached epidemic proportions on a world-wide scale!

Worldwide Growth!

At the start of 2017, industry experts released stats showing that global Ransomware attacks had increased by a whopping 11%, and that was just in March.

With these types of attacks on the rise, it’s become important for businesses to ensure that they have cyber liability insurance in place, just in case they become the target.

When you consider that it’s not just the loss of your data that becomes the problem, you begin to realise just how negative of an impact ransomware attacks can have. For instance, a business that falls victim to Ransomware will need to recover sensitive data and ensure that all their customers are informed of the breach (this can lead to a loss of customers in many instances). The company will also spend a great deal of time recovering this data which means considerable down time, and this in turn will affect the organisation’s bottom line.

There’s also the financial implications involved if the organisation has not been making regular data backups. Either the ransom will need to be paid (and often this doesn’t even guarantee that the data will be returned) or the data will be permanently lost.

Who is Most at Risk of Ransomware Attacks?

There is a common misconception that large companies are the sole or main target of Ransomware attacks. Unfortunately, nobody is safe from a potential attack as these hackers prey on private individuals as well as small, medium and large companies. Those who are most at risk are online users who don’t take extra care not to open emails and files or click on links from unknown senders.

How to Protect Yourself from Ransomware Attacks

While some companies have opted for cyber liability insurance, which can often cost a great deal, others have realised the value in secure, encrypted online backups of data. The data will be seamlessly updated daily or weekly and in the event of a Ransomware attack, there will be no need to pay the ransom to unlock your files or have your data restored. All of your valuable and sensitive data will be readily available for you, safely stored in the cloud.

Protect yourself and your company from the negative impact of Ransomware. Register for an online cloud backup account with Soteria today.

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