Ransomware Protection Impact
- Without Ransomware Protection, businesses lose more than $75 Billion each year due to ransomware
- In a study of 582 cybersecurity professionals, 50% did not believe their organization has adequate ransomware protection to prevent an attack
- Where no ransomware protection is in place, a ransomware attack costs a business $133,000 on average
- A lack of ransomware protection caused $25 billion in losses for the healthcare industry in 2019
- Organizations spend $14 Billion per year on ransomware protection
- 56% of malware attacks consist of ransomware
- 30% of malicious messages get opened by targeted users (Verizon) - accounting for much of the spread of ransomware
The concept behind ransomware is very simple: lock and encrypt a victim’s computer, then demand a ransom to restore access. Ransomware protection is the catchall term that is used to describe products or services that prevent this from happening, in various ways.
Most commonly, ransomware criminals trick you into clicking on infected links. This is done by disguising an email to mask their malicious intentions. Inadequate ransomware protection can lead to devastating consequences not just for businesses but for individuals too. Homeowners without ransomware protection for example have lost millions of dollars.
Ransomware Protection Infographic
Want a more visual representation on why having ransomware protection is so important? Check out this informative infographic below from Datto.
Ransomware Protection Glossary of Terms
- Ransomware: Type of malware which restricts access to the computer system that it infects, and demands a ransom paid to the creators of the malware in order for the restriction to be removed.
- Advanced Persistent Threat: An adversary that possesses sophisticated levels of expertise and significant resources which allow it to create opportunities to achieve its objectives by using multiple attack vectors
- Attack Path: The steps that an adversary takes or may take to plan, prepare for, and execute an attack.
- Attack Pattern: Similar cyber events or behaviors that may indicate an attack has occurred or is occurring, resulting in a security violation or a potential security violation.
Ransomware Protection Scandals
There have been countless devastating and high-profile ransomware attacks on businesses where businesses where not protected against ransomware.
The Latest in Ransomware Protection
Take a look at articles on ransomware protection, phishing and email fraud
- Phishing, and Jeff Bezos’ Regret Minimization Framework
- Children’s Mercy Hospital Phishing Attack Impacts PHI of 60K
- We've all Had This Moment
- Phish Your Own Business to Expose Vulnerabilities
- The Email That Changed America — Would You Have Fallen For It?
- Protect Those You Care About
- We’re All Sitting On An Asset We’re Not Using
Ransomware Protection Reading
Keep up with the latest talks and happenings in ransomware protection
“The total paid by Florida municipalities over ransomware in the last two weeks now stands at $1.1m.”
“And while Gmail does have great security, it’s not truly anonymous nor secure.”
Final Thoughts on Ransomware Protection
Not having ransomware protection is extremely terrifying because of its potentially crippling effects to your business. If you are hit with ransomware, the most important rule is to never give in to paying the ransom. The reason is because doing so encourages the onslaught of more ransomware attacks against either you or somebody else.
In order to prevent ransomware attacks on your organization, it’s crucial to have a trusted ransomware protection system to accurately identify fraudulent emails. Use Retruster today!