The rapid evolu on of ransomware
Many security experts compare protec ng digital assets to securing a home.
However, bad actors don't just walk through your front door; they use any
means possible to gain access while going undetected.
Cybera acks have become a very sophis cated form of digital organized
crime and are no longer a lone wolf prac ce. A ackers understand the value
of sensi ve data and use it as leverage in their extor on. Ransomware, a
type of malware a ack, can use phishing spam and social engineering to
access vic ms' resources. It takes over a part, or all of an IT environment,
encryp ng and denying access to cri cal data. A ackers then typically
demand a ransom in exchange for decryp ng the data and returning it
to a usable format. But it doesn't stop there. Emerging technologies are
breeding new and advanced forms of ransomware, as bad actors can
more effec vely mine for security loopholes and exploit them.
Without sufficient protec on, ransomware vic ms have almost no
maneuvering margin, o en being forced to dispense high payouts or manage
costly down me for their business. On average, manufacturers reported
the highest average ransom payment compared to other industries
in 2021; $2,036,189 for manufacturers vs. $812,360 for all
industries combined.
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In some instances, paying a ransom isn't
even enough, as some bad actors refuse to restore data even
a er payouts had been issued.
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