5 more things to know about ransomware

Ransomware attacks are getting more expensive, which is one reason why you should have an incident response plan. Tom Merritt provides more information about this cybersecurity threat.

5 more things to know about ransomware

Ransomware. You've probably heard me talk about ransomware before, and I'm going to talk about it again. It shockingly has not gone away, and there are new things to be aware of. Here are five more things to know about ransomware.

  1. Your chances of getting hit with ransomware are still high. According to Coalition, one of the largest providers of cyberinsurance in North America, ransomware incidents accounted for 41% of cyberinsurance claims in the first half of 2020. 
  2. Ransomware attacks are coming faster, too. Coalition reports that the frequency of ransomware attacks rose 260% in the first half of 2020.
  3. Ransomware is getting more expensive. Coalition reports that the average ransom demand increased 47% in the first half of 2020. The Maze Ransomware Group was the highest, with demands six times higher than the average.
  4. Ransomware attacks are targeting schools. With more students working from home, there's a larger attack surface to get into networks. The first day of school was canceled in Hartford, CT because of ransomware, and the Newhall School District in California shut down classes September 15 because of a ransomware attack. These incidents aren't the only ones.
  5. Plan now. The National Cyber Security Centre says having an incident response plan can reduce the impact if the worst happens. Even if you don't think you're at risk, you can end up targeted by accident--a plan can minimize damage.

You know ransomware is a threat, and you also know you need a plan--you don't need me to tell you that. Maybe share this information with a friend or colleague who isn't as on the ball as you are.

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Computer security and hacking concept. Ransomware virus has encrypted data in laptop. Hacker is offering key to unlock encrypted data for money.

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