New Year’s Eve is one of those special evenings filled with memory and cheer. It’s a celebration of what’s about to come and remember what has been. You may recall, however, New Year’s eve was a little different for Travelex who fell victim to a crippling ransomware attack. But what exactly is ransomware?
Ransomware can be critically damaging to a business, and the threat remains large. It is malware that encrypts a victim's file, taking them hostage. Often it is the personal information of a business’s customers, or financial information that gets targeted and held for ransom.
We cannot reclaim these files without a special mathematical key only known by the hacker who then demands the victim to pay via bitcoin or other untraceable cryptocurrency.
A hacker might choose their target depending on intention and outcome. For example, the hacker might target someone like Travelex, because of the large amount of financial dealings and availability of international currencies.
Others may take on the role of a ‘vigilante’ hacker, where they may be in the possession of illegal or questionable materials in a business or persons' files. Attempting to Inflict some self-righteous justice.
Like all things, having the right IT support strategy in place prevents a lot of issues and potential risks from ever happening. Making sure you or your businesses security software is trustworthy and updated is the best thing you can do to ensure cyber security and protection.
Exercise good online habits. Do not automatically click links or download attachments to clear the inbox. Ransomware delivery can be difficult to detect, only open links and sources from 100% trusted organisations. if in doubt, stay out.
Invest in IT support for your business and back up your businesses data. This will prevent ransomware from taking effect.