Imagine you get to work, turn on your computer and find that you are being blocked when trying to log in. How long would your business survive?
Ransomware is any type of malicious software—also called malware—that infects a victim’s device or server and prevents the technology from working as it should or blocks access to certain data until the victim pays a ransom. Typically, the cybercriminals behind ransomware attacks demand bitcoin, a type of digital currency that can be difficult for authorities to trace. Businesses of all sizes and sectors can be targeted by ransomware, as it’s not only capable of infecting personal devices but also entire organizational networks. According to the latest research from technology corporation IBM, ransomware is one of the most damaging cyberattack methods, incurring an average of more than $4.6 million in total losses per incident (not including the actual ransom payment). Contact Integrity Insurance Agency to get your free guide to learn more about how to prevent this from happening to you, and how insurance can help with the cost of recovering your data should you lose it.