Ransomware attacks uses cryptographic file-locking software which cost small and medium-sized business (SMBs) more than $1 billion last year, a report from Herjavec Group.
“SMBs have a significant higher risk for ransomware attack since they typically have fewer resources such as money and knowledgeable people managing their technology to secure their IT infrastructure including a good backup strategy.” Said Engin Kirda, professor of computer science at Northeastern University. “Hence, whenever a ransomware attack happens, SMB often end up having to pay the ransom to rescue their data.”
Over the last few years, the ransom has increased on average $500 to $5,000 to unlock your files.
In addition, hackers are evolving their techniques to get around traditional security protections, according to a recent report from PhishMe. The newer variations of ransomware/cryptographic file-locking software inspects the machine it is infecting, and will determine how much money the machine’s user is likely to pay.
For example, if the malware find medical records on the machine, the ransom price will go up dramatically (we’ve seen ransom up to $50,000). When the software determines that the machine is used for something important the company is willing to pay more.
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