How to Protect Your Organization from Ransomware

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Ransomware on the Rise

Ransomware is one of the fastest-growing trends in cyber crime, largely due to an overall increase in processing power that makes it possible for infected computers to encrypt their own files in a matter of hours. Compounding the problem is the rise of anonymous payment systems such as Bitcoin, which makes it easy for criminals to accept payment without fear of being traced. According to Intermedia's report, 43 percent of IT consultants have had their customers fall victim to ransomware and 59 percent of respondents expect the number of attacks to increase this year.

Ransomware is taking organizations of all sizes by storm with a keen eye on the health care sector, as made evident by recent outbreaks in the Hollywood Presbyterian Medical Center in Los Angeles, and more recently the Methodist Hospital in Henderson, Kentucky. Although the ransom can be costly, the reality is that the downtime inflicted by ransomware can be even more damaging to businesses.

A recent report commissioned by Intermedia found that 72 percent of employees were unable to access their files for at least two days, and 32 percent were locked out for five days or more. Richard Walters, SVP of Security Products at Intermedia, believes that companies need to take this emerging threat more seriously, and can start to do so by taking the necessary steps to minimize the damages.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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