What Is Ransomware? The Guide

If you’ve been around the internet for a while, you’ve likely heard of ransomware. But what is ransomware? What is the economic impact of a ransomware attack? And how can you protect your business?

We cover these topics and more in this definitive guide to ransomware.

Our “What is Ransomware? The Ultimate Guide will help you discover:

  • How to spot ransomware.
  • The monetary threat ransomware poses to your company.
  • The types, most common forms and stages of a ransomware attack.
  • Federal government-backed recommendations to safeguard your organization.

Don’t become a ransomware statistic. Get the guide today.

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Stay Informed About Ransomware or Risk Your Business

$

The average cost of a ransomware attack for SMBs.

$3.4 billion

The number of malicious emails sent every day in 2023.

$ billion

The projected total amount ransomware will cost victims in 2023.

$4.54 million

The average cost of a data breach resulting from a ransomware attack, excluding the ransom payment, in 2022.

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Is Your Business Protected? Not Likely

  • Vulnerable majority: 80 percent of small businesses are concerned about becoming cybercrime targets in the next six months.
  • Low cyber resilience: Only 14 percent of businesses rate their ability to reduce cybercrime risk as "highly effective."
  • Data encryption neglect: 78 percent of businesses store sensitive information without encryption.
  • Outdated software: 62 percent of businesses don't update their apps and software.
  • Asset neglect: 81 percent of businesses check asset locations only once a year or less.
  • Disaster preparedness gap: 75 percent of businesses lack a disaster recovery plan.
  • Budgetary blindspot: 51 percent of businesses allocate zero budget to cybersecurity.
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Ransomware Isn’t the Only Thing to Be Concerned About

In today's world, cybercriminals employ a wide range of tactics to breach networks, steal data and disrupt businesses.

Here are some common methods:

  • Drive-by attacks: Picture this: You innocently click on a link or visit a website, and just like that, your system falls prey to sneaky malware. It doesn't announce its presence, operating discreetly in the background, quietly siphoning data for potential future exploits.
  • Distributed denial of service (DDOS): Cyber adversaries have their sights set on websites, networks, servers or even individual computers, aiming to knock them offline and disrupt business operations.
  • Man-in-the-middle (MITM) attacks: Here's where hackers slip between users and servers, gaining control and manipulating the situation. They can mimic you to deceive your users or spoof your IP address to access other servers or applications, all while gathering valuable data.
  • Malicious software (malware): This category encompasses a wide spectrum of threats, from notorious ransomware to viruses, trojans, worms and other stealthy forms of infection.
  • SQL injection: Cybercriminals exploit vulnerabilities lurking in a website's database, wielding them to manipulate or extract sensitive data, leaving your critical information vulnerable.
  • Keylogging: By recording keystrokes, cyber wrongdoers get hold of login credentials and other sensitive information, posing a considerable security threat.

These are just a glimpse of the dynamic world of cybercrime. Hackers are constantly concocting fresh strategies.

Our guide can help protect your business.

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Download this free “What Is Ransomware? The Ultimate Guide” to start your journey to stronger business cyber defenses. In a few minutes, you’ll discover the most common ransomware methods. Use this resource with your internal IT team or managed service provider to determine where to start improving your ransomware awareness.

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