Ramsomware is Exacting a Big Toll on Businesses

Posted on Aug 20, 2016 in Jeff Nolte's Blog

Businesses are under increasing attack from ransomware – 40% have experienced a ransomware attack in the past year, with companies in the healthcare and financial services sectors getting hit the hardest, according to a new study from Malwarebytes and Osterman Research.

According to the FBI, hackers extorted business and institutions for more than $209 million in ransomware payments in the first three months of 2016. The business of ransomware is on pace to be a $1 billion a year crime. Over 50% of corporate decision makers now consider ransomware to be a “concern” or “extreme concern”, according to the study.

Study highlights:

  • Nearly 80% of organizations breached have had high-value data held for ransom.
  • Of these victims, more than one-third lost revenue and 20% had to shut down completely.
  • Nearly 40% paid the ransom.
  • Organizations believe that training end-users and implementing ransomware-focused technologies are equally important.

CTS has relationships with proven Managed IT providers that offer security solutions that can help protect your business. Contact us today: (800) 787-4848 or jnolte@ctsmd.us