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Would You Pay The Ransom Fee

Tuesday, 28 June 2022

An estimate of 37% of businesses worldwide fall victim to ransomware attacks which is no surprise as it is one of the many fast growing cyber-crimes.

So, what is ransomware?

It is an attack by cyber criminals who get into your network or devices to steal data through encryption. Can you imagine the horror of not being able to access your data?

It gets worse… they will then continue to urge you pay a ransom fee, normally a large sum for the key to the encryption.

If you decide not to pay the fee, they have the access to delete your data.

It can be highly stressful for the business as well as the extra stress on reputation and how well it can bounce back from the attack, in 2021 it has been noted the average downtime after an attack could be 22 days long.

What do you do?

Do not pay any ransomware demands!… is the official advice.
But a recent survey concludes a large 97% of business leaders would pay quickly if it were to happen again along with a third paying instantly.

Deciding to pay a ransomware fee leads to more risks, you can’t be sure you’ll get your data returned to you and 65% average where data is restored after payment. Another risk is becoming a target again in the future as you have paid previously.

Best you can do.

Best way to deal with a ransomware attack is by having the correct security measures in place to be able to prevent an attack. At Pisys.net we urge you to be educated on cyber security and best practices, as well as implementing multi-factor authorisation across all applications and use a password manager. Another tip is to ensure all updates are installed quickly and to always have a backup ready and a recovery plan.

Reduce the downtime with these tips so you can bounce back stronger. Here at Pisys.net this is what we do. We support businesses with cyber security to minimise risks.

Sound good? Let’s talk.

 

Published with permission from Your Tech Updates.

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