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by Mike Kolb, vCIO

4 December 2021

What You Need to Know About Ransomware

In a ransomware attack, hackers acquire and lock your employees out of their data and devices. Although there is no way to fully halt these attacks, there are many steps businesses can take on an individual and company-wide basis to combat the ransomware revolution.   

What is Ransomware?

Ransomware is a malicious application designed to lock down files on a system or network. Retrieval of your data will only be granted if a ransom is paid, usually in the form of cryptocurrency. Ransomware usually causes immediate encryption, but it can also lay dormant until triggered by specific events – such as a time and date, or the opening of a specific program.

 

Who is Affected by Ransomware?

As for a typical victim, a common denominator is yet to be found. No one is spared, from home-grown operations to large corporations, and even entire cities. Among small businesses, 46% have been the target of a ransomware attack, and of those companies, three-quarters have paid the ransom.

 

The Best Ransomware Protection is Education

Mike Kolb, Framework IT’s VP of Consulting, said, “Don't view security and protection as an insurance policy – train and invest in your employee’s knowledge and in your data's protection.” 95% of security breaches are due to human error. Employees who participate in security awareness training learn the warning signs and are less likely to fall for bad actors.

 

It is extremely important that your business is protected from ransomware and other forms of malware. If you’re experiencing a ransomware attack, or simply want to make sure your company is protected, Framework IT can help