What is ransomware

We might hear the term ransomware in the news referring to an attack on a company and wonder what exactly that is or how would that happen?   

The US Cybersecurity and Infrastructure Security Agency states Ransomware as a type of malware used to infect computers and encrypt computer files until a ransom is paid.

 

But how exactly does that happen when companies and corporations spend millions of dollars constantly trying to prevent it?  To understand that, we first need to consider that the ransomware code needs to be installed on the company's system somehow.  This can happen with something as simple as an employee clicking on a phishing email or downloading a document from a hacked site.  Once the malware has been installed, the hacker would encrypt the company's files and lock out everyone until the ransom has been paid.

 

Ransomware can affect any computer, but most of the attacks we hear about are businesses, why is that?   There's a many reasons for that, first companies have obligations to shareholders, regulators and customers so they may be required to report any such cyber attack if it happens.  These attacks happen to individuals also, but the impact of those types of attacks are much smaller compared to when millions of users and millions of dollars are affected with attacks on companies.    

 

Because ransomware is a type of malware, follow these tips to reduce your risks and keep your data safe.

 

Tips on preventing ransomware

Contact our cyber experts immediately if you think you've been affected by a ransomware attack.