The science behind ransomware attacks and why they are a threat

How Ransomware Can Affect Your Business in 2022

Organizations all over the world are struggling with a rising number of cyberattacks and How Ransomware Can Affect Your Business are operating under the threat of security problems.

One of the most common security threats they face is ransomware, malicious software or malware that encrypts files and documents and holds them for ransom.

Ransomware infects a single PC and then infects an entire network. The victims of a ransomware attack have little to no choices.

They can either choose to pay the ransom to the cybercriminals to regain access to their encrypted network. Restore from backups, or hope to find a decryption key available for free.

Ransomware attacks generally start when someone clicks on an innocent-looking link, downloading the malicious payload and encrypting the entire network.

Ransomware and How It Can Affect Your Business
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Most ransomware attacks tend to exploit flaws or weaknesses in the software, cracked passwords, and other vulnerabilities to access the organization’s weak points.

Cybercriminals secretly take over the network and then encrypt everything that they can. It can be devastating for companies of all sizes if their vital documents, servers, or networks suddenly become inaccessible and encrypted.

The worst part is that after you have been attacked with file-encrypting ransomware, the cybercriminals will demand a ransom to release your corporate data. It is a simple yet extremely effective ploy.

How Much Will a Ransomware Attack Cost You?

Naturally, the ransom demand will be the biggest cost affecting your organization,  depending on its size or ransomware type.

Cybercriminals launch ransomware attacks of varying magnitude. However, demanding large sums of money that go up to millions of dollars is becoming increasingly common for them.

They demand such a high sum to restore access to the victim’s network because most organizations are willing to pay that amount.

When attacked, organizations can’t do business because ransomware blocks their network. Hence, they cave into the cybercriminals’ demands.

Related: Secure Your Work From Home Network in 2022

Most businesses can’t afford to lose revenue from having their network unavailable. If an organization chooses not to pay the ransom, they risk losing revenue for weeks and even months.

Besides this, they will most likely pay a hefty amount to a security company to regain their network access.

In some cases, this could end up costing more than the ransom demand. Whatever way the organization chooses to deal with a ransomware attack will have a major financial impact.

To prevent such an occurrence in the future, an organization will need to invest in its security infrastructure. To help you, we are sharing a short guide on signs that your company networks are under attack from ransomware.

Download the guide from our link right here and find more information on ransomware and how it affects your business.