Ransomware

RANSOMWARE:  Every 14 seconds, a new organization gets hit by ransomware

Ransomware is a type of malicious software that threatens you with harm, usually by denying you access to your data. Once the ransomware has infected your computer, it will ask you to pay a ransom — usually in cryptocurrency — in exchange for decrypting your data or unlocking your computer.

Bitcoin was the primary method of payment for ransomware. Around 98 percent of payments were made in Bitcoin

The Cost Of Ransomware Attacks

2020 – $20 billion.   2019 – $11.5 billion.   2018 – $8 billion.

  • In 2020, 73 percent of all ransomware attacks were successful  (Sophos)
  • According to Coveware, in Q4 of 2019 the average price of ransomware attack increased by 104%.
  • Ransomware attacks don’t just cause monetary damage. In the United States alone, 764 healthcare providers temporarily stopped operations because of ransomware in 2019, as well as 113 government institutions and 1,233 universities and school districts (EMSISoft)
  • Ransomware downtime costs organizations more than $64,000 on average. (Coveware)
  • The average ransomware payment rose 33% in 2020 over 2019, to $111,605. (Fintech News)

According to recent ransomware statistics from cybersecurity firm Coveware, these are the most widely reported causes of data breaches in 2020.  

  1. REvil (Sodinokibi) — Ransomware program that’s difficult to detect 
  2. Maze — Data-stealing ransomware that threatens to sell your data
  3. Phobos — Ransomware that locks productivity documents

Learn more about Ransomware and how it impacts your business!

Don’t be the next victim of Ransomware. CIT can protect and secure your data, along with 24×7 server monitoring.

Don’t Gamble With Your Security . . . contact us today

Report all ransomware incidents with CISA (Cybersecurity & Infrastructure Security Agency) to help other secure their security.

 

 

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