Business owners need to watch this segment to understand the threat to your business and why IT Security Service providers are asking to increase IT Security spend.  This is a high value, high tech business that is costing the world economy BILLIONS of dollars.

The proliferation of devices connected to the Internet allows more attack vectors for hackers to exploit. (It is estimated by 2020 that there will be 50B devices connected to the Internet). Added with companies that have (RaaS) Ransomware as a Service where criminals can purchase access to code and send out 10s of thousands of attacks at a time and the RaaS business takes a 15% cut of all ransoms that are paid.  It is only getting worse but the good news is that you do NOT have to be a victim of ransomware, there is processes, procedures and reporting / auditing tools that are available that will decrease incrementally your chances of getting attacked and reducing the attack surface so when there is a compromise the damage scope is limited and easily remediated.  The option in all these cases is to pay the ransom or if your backups are solid, recover from backup.  The FBI recommends not paying the ransom however, when you don't have solid protected backups you may have little choice except to negotiate the fee down.  In most cases the criminals do send the proper information to get your files back.  The jury is still out on the amount of after payment re-infections or additional targeted attacks happen on companies that pay the ransom.

If you are not sure about your security posture contact our team and setup a review with our IT security specialists.  Network Essentials has built a strong IT Security program to protect small business from attacks.

https://www.cbsnews.com/news/ransomware-how-cybercriminals-hold-data-hostage-and-why-the-best-solution-is-often-paying-a-ransom-60-minutes-2019-05-05/