Imagine working at your computer when a pop-up window comes up appearing to be a realistic Department of Justice seal saying that you have broken the law and must pay a fine, or a pop-up with a countdown threatening your files are in danger unless you pay before time expires. At this point in time you have unfortunately been hit with ransomware. It is virtually impossible to close out the screen and you now have a virus spreading to throughout your company. Ransomware is a new form of cyber-attack being implemented by cyber criminals which uses false threats and intimidation for monetary gain.
What Does Ransomware Do?
Ransomware affects your computer by simply clicking on a bad link, whether online or sent to you in an e-mail. The most common type of Ransomware today is called Cryptolocker, a virus that encrypts the files on your computer by launching a pop-up saying they will decrypt your files for a fee, usually around $500-$1,000, with a countdown, usually around 72 hours. Some forms increase the fee hour to hour while others will decrypt a few files to show good faith. If you do not pay the “ransom”, usually in BitCoin, the virus has the potential to spread to any device attached to the server. This is especially detrimental to large companies with many electronic devices, and has been known to shut down entire offices for long periods of time.
Experts Advice Not to Pay...
Experts and cyber law prosecutors advise that paying these criminals will not lower your risk of becoming a future target. 35% of businesses who had reported ransomware attacks were attacked more than once. Experts say most ransomware hackers have no interest in going through your files looking for valuable information that could make them a quick buck. If you have your files backed up, or have the time and patience to fight the attackers, it will dissuade cyber criminals from using ransomware. Officials also say that unplugging the infected computer from any other devices and the internet will help contain it from spreading.
Paying Might be the Best Option
While experts and government officials say publically that not paying is the right thing to do, several hacked police stations, including ones in Massachusetts and Kentucky, have paid $750 and $500, respectfully, to decrypt their files. Those who have paid say their files were returned unharmed, an honor among thieves, and that there were virtually no problems 24 hours after the payment was made. Ransomware can also stall production and cost extra due to the time it takes and the specialists that need to be hired to fight it. Most small business owners who have paid the ransom said they did so because it was easier and more cost effective than losing a week of work.
How Can you Prevent Ransomware?
Every cyber safety policy should start and end with backing up your files. Having files online in a secure location means that losing your files doesn’t cripple your business and gives thieves one less thing to hold against you. Cyber safety training for all employees is another easy way to prevent the majority of mistakes. In a study of small business employees, 23% of employees have opened phishing messages they thought might be risky while 11% say they open every attachment they get in their email. By teaching your employees about secure online activity and limiting the amount of risky behavior, ransomware attacks should rarely occur.
The unfortunate thing about ransomware is it is unlikely to go away any time soon. With ransomware becoming popular around 2009, it died out before Cryptolocker offered relatively cheap hacking software to non-hackers. Now, cybercriminals can rent it for the very low price of just $500 per month, with an income potential of $1.800 per week. The hope is you won’t have to deal with ransomware anytime in the future, but if you do, don’t take the threat lightly.
For more information on cyber law and telecommunications law, contact the Goosmann Law Firm at info@goosmannlaw.com or call (712) 226-4000.
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