British businesses warned to stay vigilant in the face of Ransomware attacks

A new report from security watchdog SonicWall has confirmed that the threat of Ransomware is greater than ever in the UK and that British businesses in particular should sit up and take note, with over 38 attacks every day on UK based companies and organisations.

What is Ransomware?

Ransomware is a form of malware which locks away a victim’s files and then requests payment to have them returned. Ransoms are paid through a digital currency such as Bitcoin, which allows for highly encrypted and anonymous transactions. While a ransomware attack can be a nuisance for individual computer users, for businesses the repercussions can be far greater. A loss of sensitive data, particularly that of clients and customers can lead to serious damage to reputation and financial losses. In order to protect themselves from Ransomware, businesses should work closely with IT security specialists to ensure that systems are updated with the latest software, patches and firewalls and that they have access to offline backups of their data should the worst happen, and they fall victim to a ransomware attack.

Ransomware is ‘biggest immediate cyber threat’

A recent report from the security firm Kaspersky Lab has claimed that so called ‘Ransomware’ is now the biggest and most persistent threat to internet security.

Their report, which you can read here, acknowledges that there were as many as 2,900 incidents of Ransomware attacks during the first three months of 2016, a 14% increase on the previous quarter.