With phishing sites growing by 640% in 20191, 65% of ransomware attacks delivered via phishing2 and 90% of corporate data breaches being caused by human error3, the threat of ransomware hangs over every IT professional. The average cost of a breach ranges from $5.11 million for large organizations to $2.65 million for smaller organizations. The global cost to victims of ransomware is estimated to be $20 billion in 2020.
Ransomware is a specific type of malware designed to encrypt a computer’s content until the user pays to get the recovery key. This effectively halts productivity, impacting business revenue. However, IT professionals can take decisive action to minimize both the threat and the impact of ransomware. Here, we define the preventative steps that can be taken to protect the enterprise against ransomware, examine how to limit the impact of a breach, explore where an in-process attack can be stopped, and discuss what to do if a hacker succeeds in gaining access.
1. 2020 Webroot Quarterly Threat Report, February 2020
2. IDAgent.com, July 2020
3. TechradarPro.com, May 2019