Glossary
Ransomware
Imagine someone breaks into your office, puts all your filing cabinets in a locked safe, and demands $10,000 for the combination. That's ransomware - except it's your computer files, and the "safe" is unbreakable encryption.
What is Ransomware?
Ransomware is malicious software that encrypts files on a victim's computer or network, making them inaccessible until a ransom payment is made to the attackers.
Why Should You Care?
Ransomware is the #1 cyber threat to businesses of all sizes. The average ransom demand is now over $1 million, but the real cost includes downtime, lost business, recovery expenses, and reputation damage. Small businesses are increasingly targeted because they often lack proper defenses.
Is your business exposed?
Real-World Example
In 2024, a small dental practice in Ohio was hit by LockBit ransomware. The attackers encrypted all patient records and demanded $50,000. The practice had no backups and was forced to pay. Total cost including downtime: over $200,000. A simple backup system would have prevented most of this damage.
How to Protect Against Ransomware
- 1.
Set up automatic backups to the cloud
- 2.
Enable multi-factor authentication on all accounts
- 3.
Train employees to spot phishing emails
- 4.
Keep all software updated
- 5.
Install reputable antivirus/anti-malware
Related Terms
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