Local company pays ransom of $150,000 to stop hackers from exploiting their clients and deleting all files." This is the headline we'll never see yet it happens all the time. Why do we not hear about it? Because the last thing a business wants the public to know is they were hacked and for customers to lose confidence in their company. Ransomware for consumers are those pop-up messages that say you've been hacked and to pay $29 for a 'pc cleaner' and all will be well.
For business a ransom attack by a cybercriminal is an entirely whole other level. In it's simplest form it is when a hacker from anywhere in the world gains access to your business computer systems and with the ability to access or delete all of your personnel, client, and corporate files.
Then they let you know they have the access, prove it to you, and ask for a tidy sum in return often in untraceable bit coin or wire transfers.
Would it surprise you to know that the PGA of America was impacted recently? The list goes on and on and the scary thing is, how many businesses never reported their attack by cybercriminals and never reported?
While the full extent of the cost of a ransomware attack on a business is hard to measure we do know cybercriminals stand to receive anywhere from a few thousand to hundreds of thousands in ransom payments per incident.
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