Written by LRQA.
In an increasingly digital world, ransomware attacks have become a prevalent threat, disrupting businesses and causing significant financial losses.
The increasing volume and impact of ransomware attacks – which encrypt victims’ computer files until they pay a fee – poses a significant threat to all organizations, with well-publicized incidents in every major sector. With the average cost of a ransomware attack rising to US$4.4 million and the largest payment ever totaling US$40 million, it’s clear that being targeted can lead to significant financial, operational and reputational impacts.
Ransomware is a type of malicious software that encrypts a victim’s data, demanding a ransom for its release. As cybercriminals become more sophisticated, it’s essential for organizations to stay ahead with robust security measures and response plans. The impact of ransomware has been transformed by the emergence of cryptocurrency. Its growing popularity, coupled with the anonymity it provides, has ushered in a new wave of sophisticated attacks that focus on bigger targets that have the means to pay larger ransoms with the promise of their files being returned.
The best way for businesses to protect against ransomware is to stick to the fundamentals. Ransomware is, on the face of it, a relatively simple method of attack. Threat actors target and exploit businesses that have lax security and often assume, quite correctly, that this leads to shortcomings in other areas, such as regular backups of important files. The consequences of such attacks are severe, often leading to halted operations, substantial financial loss, and damaged reputations.
To help organizations safeguard their operations and prepare for potential cyber-attacks, LRQA is hosting a free webinar on Wednesday, June 12 2024 at 9am CST. This event promises to provide invaluable insights from leading experts in cybersecurity. During the webinar, attendees will gain a deeper understanding of how cyber-attacks occur and learn actionable steps to enhance cybersecurity resilience.
For more information and to secure you spot, visit: https://info.lrqa.com/l/12702/2024-05-21/gnxvbs
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