Where are we headed with the ransomware problem?

Ransomware is a substantial cybersecurity problem already.

What’s coming, however, can be even more worrying to businesses.

State-backed attackers have realised how much of a profitable opportunity this can be.

In 2017, WannaCry was wreaking havoc upon the victims’ computers in more than 300,000 recorded cases spread over 150 countries.

This past summer, dozens of small towns suffered ransomware attacks, with some suffering 10s of thousands of dollars in damages.

Since we tend to be hoarding data in the modern age, this is what hackers are capitalising on.

There is an aim to gather customer engagement data for big data and artificial intelligence technologies to analyse and help improve it.

As a result, information is piling on, but there are no clear directives on how to protect it properly.

In any case, encryption is how ransomware does its damage.

However, instead of shielding the data from prying eyes, which was its original intention, encryption is used to remove access from the owner and extort a ransom.

There are a couple of ways to deal with the problem:

– Train your staff to recognise a case of suspicious email

– Keep your systems up to date

– Change default passwords across access points

– Apply two-factor authentication

– Recognise your most important data and back it up

– Design a response plan to ransomware attacks

As long as the victims will keep paying up, cybercriminals have an incentive to keep on trying.

Therefore, don’t become one in the first place.