Cybercriminals have made headlines by forcing Fortune 500 companies to pay million-dollar ransom payments to retrieve their data and unlock their systems. But despite the headlines, most ransomware targets families as well as small and medium sized businesses.
In fact, the average ransom payment is closer to $50,000. And it makes sense – just like it is for common criminals, it’s easier to steal a purse than it is to rob millions from a bank.
Ransomware uses modern technology and cutting-edge tools to do something that feels decidedly old fashioned – steal from you. It’s a modern day grift, where criminals take something that you value and will only give it back in exchange for money
In the modern age, it looks like this: cybercriminals break into your device and lock away your most valuable files. They want to disrupt your life and your business so much that you’re willing to pay the cybercriminals to give back your most important files.
“Their goal is disruption. How can your business operate if all the computers are locked up?” explains Grayson Milbourne, security intelligence director for Carbonite + Webroot. And businesses aren’t the only target.
Families might lose access to years of photos and videos because of a ransomware attack. That’s because criminals know that families are willing to pay to keep years’ worth of precious memories.
Of course, cybercriminals have added a new layer to their crimes. Now, instead of destroying your files if you don’t pay them, they’ll sell your files on the dark web. This way victims are even more likely to pay because they could lose passwords, business data and personal information.
How to Fight Back
Cybercriminals aren’t the only ones using new technology, though. Cybersecurity experts are developing new tools for keeping cybercriminals out of your business and personal life. Of course, the first step to protecting you or your business is adopting a cybersecurity tool that protects your files and makes backups in case of emergency.
With safeguards in place, you won’t have to pick between losing your files and your privacy or paying cybercriminals.
Ready to take the first in protecting your most precious memories and most important documents?