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Ransomware on the Rise: Are We Taking Cybersecurity Seriously Enough?
Cyberattacks keep increasing, but are we doing enough to stop them?
Ransomware attacks increased by 118% in 2019. How do we stop them? It starts with corporate awareness and creating a wider value for cybersecurity.
In 2018, reported ransomware attacks decreased dramatically. By 2019, however, that trend reversed and ransomware attacks increased exponentially. According to McAfee Labs, in the first quarter of 2019, ransomware attacks grew by 118%. City governments, hospitals, and schools have been the most notable targets for malware threats, but businesses—from small to large—have not gone unscathed.
With the rapid increase in ransomware attacks, we are faced with a difficult question: are we taking this threat seriously enough? And if not, what more can we do to protect our personal, corporate, and government data?
The Increasing Cost of RansomwareRansomware is a type of malicious software that infiltrates a network, device, or server and holds data hostage until a ransom—typically requested in Bitcoin—is paid. This threat is so prevalent that corporations have resorted to purchasing cybersecurity insurance in the event that an attack requires either a large ransom payout or data recovery.
After a ransomware attack on Lake City, FL, the city paid nearly $460,000 in ransom in hopes of receiving the decryption key and recovering their ... more
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