Ransomware Secrets: Small businesses keep attacks quiet

cybercriminalMore and more companies are being threatened by cybercriminals using ransomware, a type of malicious software designed to hold a company’s data hostage until a sum of money is paid by its owner. Norman Guadagno published an insightful article on Carbonite discussing this alarming trend and the fact that nearly half the victims do not report the attacks.

A recent survey by the Ponemon Institute reveals that many small and midsize businesses pay ransomware demands—and then keep it a secret to avoid any negative publicity. The survey, sponsored by Carbonite, confirms widespread reports that SMBs are increasingly targeted by cybercriminals. It also shows that nearly half the victims do not report the attacks.

The most common reason companies do not report ransomware attacks, according to the survey, is to avoid having the information made public. The survey focused on 618 respondents whose organizational roles require them to help contain ransomware. About half of the survey respondents had suffered a ransomware attack, and about half of the victims paid the ransom. The average amount of the ransom requests was $2,500. Continue reading…

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