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Small firms falling victim to ransomware attacks

More and more small firms are falling victim to cyber attacks in which the hackers encrypt their data and demand a ransom to descramble it, according to a recent report.

A Wall Street Journal article dated April 15th described attacks on two US-based companies, Advantage Benefits Solutions and CoValence, in which so-called ransomware apps rendered their data inaccessible.

CoValence was able to restore its files from backups, but in the case of Advantage, the firm ended up paying a $400 (£250) fee for the hackers to decrypt their data and enable normal services to resume.

A Trend Micro spokesperson told the publication that around a third (30 per cent) of ransomware victims submit to the demands of their aggressors, potentially costing some companies significant sums as they suffer multiple attacks.

In some cases, however, data can be recovered without paying. This is the case with the Cryptolocker ransomware trojan, which had its encryption keys confiscated and made publicly available in May 2014.

A recent study by Symantec found that the frequency of ransomware attacks grew 4,000 per cent in 2014, with Android devices often now targeted as well as Windows PCs.

It is wise to choose a data recovery company who has a track record in recovering from the type of data loss you have experienced.

From:: https://www.ontrack.com/uk/company/press-room/data-recovery-news/small-firms-falling-victim-to-ransomware-attacks600.aspx

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