Ransomware is any type of malicious software that infects a computer and either prevents it from working as it should or prevents access to certain files until the user pays a ransom. Typically, the hackers behind the ransomware demand bitcoin—a type of digital currency that is difficult for police to trace.Businesses of all sizes have become targets of ransomware, as it can infect not only personal computers, but also entire networks and servers. How Ransomware Can SpreadThere are different ways that ransomware can spread, including the following:
What Ransomware Does to Your Computer There are two main types of ransomware that can hold computer systems hostage:
How to Respond Some operating systems provide instructions for responding to lock-screen ransomware, although results aren’t guaranteed. In contrast, encryption ransomware has no quick fix without an encryption key, which only the hackers typically have access to. Regardless of the type of ransomware, experts recommend against paying the ransom. After all, there is no guarantee that you will regain access to your computer, network or files after you pay. Furthermore, by paying the ransom, you could be encouraging future cyber crimes. If your business is affected by ransomware, take the following steps:
What to Do if You’ve Already Paid the Ransom Since business can come to a halt without access to essential data, business owners are often tempted to pay the ransom in order to quickly regain access. If you’ve paid the ransom, contact your bank and call the police as soon as possible. Credit card companies may be able to block the transaction and refund you if you contact them promptly. The Federal Trade Commission’s OnGuard Online website is a good resource for more tips on what to do if you’re affected by ransomware or any other type of internet fraud. How to Protect Your Business Cyber extortion from ransomware is a legitimate threat to all businesses—no matter the size. The best method of prevention is to keep confidential information and important files securely backed up in a remote location that is not connected to your main network. In addition to backing up your files, taking the following prevention measures can help keep your information secure and prevent you from becoming a victim of cyber attacks:
Don’t let ransomware—or any type of cyber exposure—threaten your business. Contact Emery & Webb, Inc. to ensure you have the proper coverage and the tools necessary to protect against losses from cyber attacks.
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This Cyber Risks & Liabilities document is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2022 Zywave, Inc. All rights reserved. |
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