“Ransomware is a particularly nasty species of online crime. Unwisely clicking on one attachment can see all your documents, your family photos, or your company accounts encrypted by a crook who will then demand a hefty ransom to let you regain access.
It’s rapidly become one of the most common threats on the internet as criminals have exploited this easy and low-risk way of making significant amounts of money.
But the rise of ransomware may have one unexpected positive side-effect. Companies are now worried enough about being hit by it that they are improving their broader cyber security as a result.
Until now, most companies that don’t have a big online presence have tended to give cyber security a low priority, largely because they don’t think they have much worth stealing.
But while a customer database or a set of invoices might have no resale value to a hacker if stolen, that data is of very real value to the company that needs access to it in order to stay in business. This means that ransomware can be a threat to nearly any business with electronic systems.”
Author: Steve Ranger