More and more, ransomware has emerged as a major threat to individuals and businesses alike. Ransomware, a type of malware that encrypts data on infected systems, has become a lucrative option for cyber extortionists. When the malware is run, it locks victim’s files and allows criminals to demand payment to release them. Unless you’ve been living under a rock, you are probably well aware that ransomware is a hot topic in the news these days. Organizations of all types and sizes have been impacted, but small businesses can be particularly vulnerable to attacks. And ransomware is on the rise.

In the McAfee Labs June 2018 Threat Report, the number of new ransomware strains saw an increase of 62% in the previous four quarters. This increase brings McAfee’s total number of identified strains to roughly 16 million. Ransomware is distributed in a variety of ways and is difficult to protect against because, just like the flu virus, it is constantly evolving. There are ways to protect your business against ransomware attacks.

Spam is the most common method for distributing ransomware. It is generally spread using some form of social engineering; victims are tricked into downloading an e-mail attachment or clicking a link. Fake email messages might appear to be a note from a friend or colleague asking a user to check out an attached file, for example. Common types of ransomware include: CryptoLocker, CryptoWall, CTB-Locker, Locky, TeslaCrypt, TorrentLocker, KeRanger, Petya, NotPetya, WannaCry. In each of these exploits, files on the local drive are rendered inaccessible and ransom message is displayed demanding payment for re-enabling access to the files. Ransomware is constantly evolving and new variants are appearing all the time. So, it would be difficult, if not impossible, to compile a list of every type of ransomware proliferating today. While the list above is not a comprehensive list of today’s ransomware, it gives a sense of the major players and the variety in existence.

Cyber criminals armed with ransomware are a formidable adversary. While smallto-mid-sized businesses aren’t specifically targeted in ransomware campaigns, they may be more likely to suffer an attack. Frequently, small business IT teams are stretched thin and, in some cases, rely on outdated technology due to budgetary constraints. Protect your organization through education, security, and backup.

To sum it all up, knowledge spreading and security software can help you avoid cyber attacks. Patch management is essential. Be certain that your software is up-to-date and secure. In the end, it is backup that will help you pick up the pieces when all else fails. Consider using a modern backup product that offers features that can permanently eliminate downtime. For the full article, and more information on the threats and solutions download the PDF.