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The 2019 Official Annual Cybercrime Report estimates that a business gets hit by ransomware every 14 seconds. Statistically speaking, seven businesses will become victims by the time you’re done reading this article.
Lake City recently shelled out nearly 500,000 to hackers so they could get their data back. The Riviera Beach City Council just had to pay $600,000 for access to their data after a similar attack. 22 different organizations in Texas, many of which are local government agencies, were recently infected with ransomware.
This is happening on a regular basis across the country and around the world, prompting the DHS to recognize the trend as “the most visible cybersecurity risk playing out across US networks, locking up private sector organizations and government agencies alike.”
We’re asking businesses everywhere to fight with us against this digital epidemic. It’s not a matter of “if” but “when” you’ll become the next target for cybercriminals around the world looking to steal sensitive data to:
Ransomware is a form of malicious software wherein the business is denied access to their systems and data until they pay a hefty ransom. Typically, ransomware is spread through phishing emails or some sort of infected website.
Unfortunately, a majority of ransomware attacks target small businesses – those who would be the most devastated in the aftermath. These targets can’t deal with the damage caused by ransomware:
Case in point: a Michigan medical practice was left with no choice but to permanently shut down. The two-doctor practice lost access to patient medical records, billing, scheduling, and much more after their data was encrypted in the face of a ransomware attack. It made more sense for them to retire early rather than pay the ransom.
Ransomware is not always an attack on a large corporation you hear about on the news. It’s often an attack on the small mom-and-pop shop down the road or the law firm with nothing more than a few attorneys in a tiny office.
Statistically speaking, seven businesses were attacked in the time it took you to read this article. This is a call to arms – those seven businesses may not ever open their doors again. 60% of small businesses close up within 6 months of an attack.