What Is Ransomware

Cyber Security Risk

As Cyber Security Risk issues continue to hit the news, one of the most important ways to handle cyber security is to become educated with the topic. Ransomware has been a popular discussion topic, as the hottest TV shows are even launching episodes based on ransomware attacks. Advanced attackers continue to enhance their tactics and create new strains of ransomware. Businesses need to remain proactive or the ramifications can have a significant impact. Here are five things you need to know to keep your business safe, especially in the healthcare industry.

What Is Ransomware?

Ransomware is malicious software, or malware, that attacks your computer system and demands ransom to reinstate access to your data. When ransomware attacks your system, attackers deny access to your files and data until ransom is paid. There are two types cyber security risk of ransomware. Crypto ransomware encrypts sensitive data and files until it is verified that ransom has been paid. Locker ransomware locks a person’s device, preventing them from using it at all. In most cases, ransomware encrypts personal files and blocks users from having access to them. Instructions are sent to the victim on how to pay the ransom and a decryption tool is given to unlock the files.

What is Ransomware Encryption?

As advanced attackers create ransomware strains, the popular choice of encryption is asymmetric encryption algorithm. This creates a well-designed strain that controls a public and private pair of keys. The data can only be unlocked when the public and private keys match.

Who Pays Ransom?

Because attackers do not want to be traced, they often use a cryptocurrency called Bitcoin. This is very difficult to trace because of its anonymity.

What Is the Average Ransom Figure?

As with anything in life, ransom varies depending on the attacker and the situation. One thing to consider is the cost of downtime that results when businesses are unable to get into their system. This is a huge price to pay. But, ransom can range from a few hundred dollars to a million dollars. According to Hacker News, a South Korean web hosting company paid $1 million in bitcoins to attackers using a Linux ransomware. The 153 servers hosted around 3,400 businesses that were infected by the encryption.

How Do You Lower Cyber Security Risk?

Security is a crucial part of any business. When you retain sensitive data and personal information, it’s the company’s responsibility to keep that data safe. A professional cyber security company can deliver the right tools for application control, limiting user rights, and creating a firewall to protect your most important information.

In the healthcare industry, HIPPA regulations create strict, required standards that protect your patients’ information. HIPPA violations can lead to costly fines, poor practice reputation, and even loss of license. Ransomware is a real threat to our society, and you never know when an attacker will successfully gain access to your business data. With quality cyber security, and professional management, your business will have the added peace of mind that your data is safe and secure. Sometimes, peace of mind is worth more than anything money can buy.