Merit's Technology Insider - October 2022 Newsletter

Would You Pay if Your Business Was Crippled by Ransomware?

Ransomware is scary. It’s where cyber criminals lock your data and charge you a ransom fee to get it back.

If it happened to you, would you pay the fee?

Despite what the criminals promise, they don’t always unlock data when the ransom fee is paid. Or they ask for a second fee. Or they unlock it and then sell it on the dark web anyway.

Many large companies are now refusing to pay, finding other ways to get their data back. And ransomware groups are looking for different opportunities.

Small, financially stable businesses are the new targets. And the size of payments demanded has increased.

This means you and your team need to be vigilant about cybersecurity. Continue to take the necessary precautions such as using a password manager, checking to make sure emails are from who they say they’re from, and ensuring your network is being monitored and protected.

It’s also vital that you have a working backup of all data. Check it regularly.

Even without paying the ransom demand, your business stands to lose a lot of money if hit by ransomware. It takes ages and can cost a ton to get back on your feet.

If you want us to audit your business and check its ransomware resilience, get in touch.

Check out the rest of the October 2022 edition of Merit's Technology Insider here!