You’ve likely heard of ransomware, the highly profitable cybercrime through which malicious actors gain unauthorized access to sensitive data and hold it hostage in exchange for a ransom, typically paid in cryptocurrency. With that in mind, you’re likely wondering “What is ransomware as a service?” and “How does ransomware as a service work?”
Category: Cyber Attacks Page 1 of 12
Cyberattacks are on the rise—and the need for cybersecurity has never been greater.
As an increasing number of organizations maintain flexible or permanent remote work policies, more and more sensitive personal and business information is migrating onto the web—and cybercriminals are taking advantage. Between 2019 and 2020 alone, web application breaches doubled, and all signs point to the trend continuing throughout 2021.
We have all seen it in the news lately: Critical infrastructure and organizations being hit with ransomware attacks; bringing operations to a screeching halt. In many cases these ransoms are paid which further incentivize more bad actors such as REvil, EvilCorp and DarkSide to continue their malicious attacks. As of May 2021, ransomware attacks have almost doubled, with 43% of all ransomware attacks affecting SMB’s. Additionally, the ransom amounts associated with these attacks have been exponentially increasing with the average ransom costing small to medium sized businesses (SMB’s) $380,000 on average. It is largely speculated that most of these cyber criminals have international ties back to Russia where little investigation and prosecution is taken on them.
Cyberattacks are on the rise, and as a result, cybersecurity is quickly becoming one of the most critical necessities for small businesses and a key revenue driver for hosting providers. We recently shared that one of the surges in cybercrimes has been in the number of ransomware attacks. In the post, we cover just how serious the threat is becoming, and it’s not the only one facing small businesses!
The biggest takeaway from these threats are that companies that are the most security-conscious are the ones that will win more customers, and enjoy higher profit margins.
On June 4, 2021 the FBI released a statement that there has been “a rapid increase in ransomware attacks against private sector companies.” Though they have said that they are investigating, and they’ve “made these investigations a top priority,” that doesn’t exactly inspire peace of mind considering they also frequently state that there isn’t much recourse when cybercrimes occur. In fact, they went so far as to post on their cyber crime page, “Because of the global reach of cybercrime, no single organization, agency, or country can defend against it.”
As a website owner, chances are you’ve heard a great deal about malware. But you may wonder what exactly malware is, and why it’s such a serious threat to your website and your site’s visitors. In this article, we’ll cover some of the most common types of malware that every website owner needs to know in order to protect their business from cyber threats, as well as how to protect you site with the right malware removal solution if your site is infected.
What’s the biggest expense your business faces? Whether it’s rent, payroll, or something else, there’s one potentially huge cost many business owners don’t factor in until they’re facing it – the cost of recovering from a cyberattack.
A data breach, ransomware attack or other digital attack that knocks your website offline can cost your business anywhere from thousands to millions of dollars in remediation, lawsuits from customers and fines by regulators. These kinds of crimes are rampant and target businesses of all sizes. The problem is so severe and widespread that Cybersecurity Ventures projects that cyberattacks will cost organizations worldwide $6 trillion by 2021.
Even a company with the most sophisticated cybersecurity tools and expert security teams can fall prey to cybercriminals if they overlook one area of vulnerability: their people. Humans can be distracted, intimidated and especially – misled. In fact, 97% of us can’t tell a phishing email from a legitimate one. Cybercriminals know this, which is why phishing attacks account for more than 80% of reported security incidents and why 54% of companies say their data breaches were caused by “negligent employees.”
Businesses of any size can fight back by providing their employees with cyber security awareness training and implementing other security best practices across their organization. This kind of cost-effective program can help your employees to understand cyber threats. That knowledge can empower them to protect your organization by spotting red flags and reporting them to IT.
According to recent research, malware currently infects an estimated 12.8 million websites globally. These infections make sites vulnerable to takeovers, defacement and data breaches from bad actors looking to tarnish site reputations and turn a profit – and the costs can be devastating for businesses. In fact, the average data breach now costs businesses $1.9 million, which is enough to significantly impact any organization – regardless of size.
To avoid the harmful impacts of a cyberattack, businesses should get proactive about protecting their site now, before the damage is done. Here are our top 4 cybersecurity tips your business can deploy now to get proactive on preventing data breaches, site defacement, DDoS attacks and other threats that put your sites at risk.
In the age of data, with organizations creating trillions of gigabytes of new information each year, it’s easy to think of cybersecurity as a mere synonym for “data protection.” But cybersecurity is so much more. By shielding companies’ data and systems from organized criminal attacks, cybersecurity programs also protect businesses from operational interruptions, financial losses, legal penalties, and the destruction of customer trust.