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The Rise of Ransomware and The Pitfalls of Poor Security
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Securance has more than two decades of experience helping organizations combat evolved cyber threats, build effective risk management programs, align with compliance standards, and increase operational efficiency. Our comprehensive approach integrates proven methodologies, dependable expertise, and each customer’s unique requirements to maximize the benefits and long term value of each assessment.
INTRODUCTION
Imagine having to pay hundreds of thousands of dollars to access data you already own. This is what ransomware does by encrypting computer systems and rendering data inaccessible. Malicious hackers exploit data owners by promising to restore access after a ransom is paid— and threatening to destroy or leak data if their demands are not met. This form of cyber attack puts the victim between a rock and a hard place; there’s no guarantee that, once the ransom is paid, the stolen data will be returned. Given the above, it’s no wonder ransomware is on the rise. Cyber criminals have nothing to lose and everything to gain in this situation. Even if the bad actor is unsuccessful in eliciting payment from one target, they simply move on to the next, while the victims are left to scramble for a solution.
Ransomware strains don’t stop evolving and often become more dangerous and sophisticated over time. Every organization must invest in ransomware readiness and mitigation strategies if they want to protect themselves from the heavy costs of an attack.
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