What is Ransomware Virus? How do ransomware attacks work?
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Ransomware: a threat to ALL businesses!
Ransomware has been a hot topic as of late.
Malicious software harms your system and blocks you from doing business until ransomware demand is paid.
Ransomware is the #1 cause of cyber claims and growing every day!
Ransomware exists since the 1980’s – started in compact disks – typically small amounts of ransom demand.
The last couple of years – paralyzing software has come out and amount skyrocketed – it’s just like flood fire wind – major threat and hazard.
So, what is ransomware?
Check out the 60 Seconds video for the definition of ransomware.
Ransomware is constantly evolving, and hackers are constantly coming up with new ways to hack our data.
We would assume that by now this crime would have matured. But, on the contrary, a new brand of ransomware called ‘DarkSide’ just launched. They aim to thoroughly study the company they would attack and would only demand what your business can afford to pay. Their ransom demand would be based on the net income.
According to Forbes, these cybercriminals claim to have ‘already made millions of dollars of profit from partnerships with other ransomware actors but created DarkSide ransomware because the hunt for the perfect cryptolocker attack product failed to come up with the goods.’ Forbes continues to share that these DarkSide cybercriminals promise to keep their word, credibility, reputation, and ‘If payments are not made, the criminals threaten to publish all data and keep it stored for at least six months and notify the media, customers, and partners of the incident.’
Protect your business. Have a good cybersecurity posture for your company and have Cyber Insurance for the risks that are out of your control. Avoid the disaster of a ransomware attack. When you have a comprehensive cyber insurance policy, it will pay the ransom, should you so choose, setting up backups, paying for your lost business income and replace damaged assets and get your back on track.