Ransomware attacks cost businesses up to $240 million in 2019 alone

In a ransomware attack, hackers aim to breach a company’s defenses and trick an employee into opening a malicious email that executes a piece of malware which encrypts as much of a business’ data as it can.

The attackers then demand the business pays a ransom, typically in bitcoin or another cryptocurrency, in order to retrieve their files.

These types of attacks are extremely popular amongst hackers because they require little specialised knowledge (complete, ready-to-go ransomware-as-a-service kits are easily available on the deep and dark web), they have debilitating consequences for the victim, and they’re often successful. In fact, ransomware attacks in Australia cost businesses up to $240 million alone.

A successful attack can be extremely costly to a business. In 2017, Maersk’s operations were attacks by a ransomware campaign. The cost to Maersk’s business alone was estimated to be more than $200 million.

To find out how to we can protect your business from Ransomware, get in touch with us today.

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