What Is Ransomware?
Malware is any sort of computer program designed to harm a computer or network’s performance, and ransomware is one of the most prevalent forms of malware. A computer infected with a ransomware virus has all of its files encrypted so that they are inaccessible. The device will be locked onto a screen that demands payment to have your encrypted files returned, usually asking for Bitcoin or other cryptocurrency to prevent the transaction being tracked.
Whether you pay the ransom or not comes down to a cost-benefit analysis of whether it’s worth it to rebuild all the lost files or if you’re better off paying the hackers’ fee. Generally, there is no other way to retrieve the encrypted files successfully. The amount demanded by these ransomware files ranges quite dramatically, but one study found that the ransoms demanded in 2019 averaged out to $12,762: but some incidents involve ransoms in the millions.
What Are the Effects of a Ransomware Breach?
The first effect that you’ll feel when you’re the victim of ransomware is a disruption to your business. Critical information on your computer will be inaccessible during the attack, slowing your usual business processes down or preventing your organization from operating all together. Often, the only way forward is to pay the ransom that the hackers are demanding. These ransoms range in their value, but the price is usually very steep.
In addition to these immediate costs, you’ll continue to feel the effects of a malware cyberattack long after the incident. If not all of the files recovered were affected, you may lose progress that was made on projects, and you’ll have to spend time and resources rebuilding what was lost. If you intend to pursue legal recourse against your attackers, you’ll also have to spend precious time on legal processes, as well as covering steep court expenses.
How Can an Organization Protect Themselves?
You shouldn’t wait until you’re the victim of an attack to take the necessary steps to reduce your risk level. Implement cybersecurity training so that everyone involved in your organization knows how to recognize and avoid common ways of introducing malware to a computer, such as phishing attempts. Protective software for your systems that scans for and protects against malware will also be a critical tool in your disposal.
If you want the very best software protecting your systems from bad actors who would introduce ransomware and other malware to your computers, our AI-based malware detection program is the top standard. Contact Quantum Star Tech and protect yourself from digital threats.