Ransomware $1bn Industry

Over night, the FBI released new figures showing that ransomware payments for 2016 are expected to hit a billion dollars. This compares to just $24 million paid out in 2015 and highlights the growing threat ransomware poses to businesses worldwide. Richard Walters, SVP Security Products at Intermedia, commented below on the worrying rise of ransomware attacks and what businesses can do to protect themselves.

Richard Walters, SVP Security Products at Intermedia:

“Ransomware is evolving at dangerously fast speeds and is now recognized as a very real threat to organisations of all sizes. The emerging malware is no longer infiltrating one computer at a time; it’s threatening to take entire businesses offline for extended periods of time. Now more than ever, companies need to prepare for a ransomware attack by implementing fully-baked business continuity plans that incorporate off-site, real–time cloud backups. This ensures file archives can’t be deleted and employees can access clean versions of the files on another device.”