The latest in Cyber crime is Ransomware. You may have seen this topic popping into you favourite TV shows but this threat is very real and something we should all be aware of – both from a personal and commercial perspective.
Ransomware is a type of malware that stops people from using their computers and accessing their data until a ransom is paid to the creator. You or an employee unsuspectingly opens you up to the threat of and before you know it your entire business is held to ransom and your business comes to a complete standstill.
“Ransomware is a very real problem that is rearing its head in South Africa. Cyber criminals literally hold a company’s data hostage. Globally, millions have been hit with ransomware, and experts are predicting that the next targets will be smaller businesses. South African companies aren’t immune,” warns Richard Broeke.
The malware can be downloaded unwittingly by users when they visit malicious or compromised websites. Some ransomware is delivered as attachments in spam emails. It then either locks the computer screen; encrypts certain files with a password, or locks files like spreadsheets and documents. You are left with instructions to pay a ransom in order to have a code or key released to you that will free up your data once again.
So what do you do? Unfortunately paying the ransom is never a guarantee that the data will be returned to you. Ultimately prevention is better than cure and the benefits and importance of appropriate IT security can not be emphasized enough.
Contact our expert brokers at CC&A Insurance and find out how you can protect yourself firstname.lastname@example.org