Ransomware: The Rising Face of Cybercrime

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Education Has Highest Rate of Ransomware

Education has the highest rate of ransomware of all industries examined. In fact, these institutions have over three times the rate of ransomware found in health care and more than 10 times the rate found in finance. With access to social security numbers, medical records, intellectual property, research, and financial data of faculty, staff and students, these institutions are a prime target for cyber attacks.

In 1989, long before the widespread adoption of the internet, cyber criminals were using floppy disks to spread ransomware across computers. Today's cyber criminals have evolved their approach using advanced strains of ransomware that encrypt data on an organization's network or lock users out of their devices. These hackers then demand a ransom, typically in the form of Bitcoin, before restoring the data back to normal.

Ransomware is a legitimate threat, with estimates from the U.S. Department of Justice showing that over 4,000 of these attacks have occurred every day since the beginning of the year.

In a recent industry report by BitSight, researchers analyzed the growing trend of ransomware across nearly 20,000 companies to identify common forms of ransomware, and identify which industries are most susceptible to these types of attacks. This slideshow highlights the findings of this recent report.

 

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

 
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