{"id":36184,"date":"2022-05-19T09:00:00","date_gmt":"2022-05-19T07:00:00","guid":{"rendered":"https:\/\/www.euruni.edu\/blog\/?p=36184"},"modified":"2022-05-19T09:34:51","modified_gmt":"2022-05-19T07:34:51","slug":"ransomware-attacks-what-are-they-and-how-can-you-prevent-them","status":"publish","type":"post","link":"https:\/\/www.euruni.edu\/blog\/ransomware-attacks-what-are-they-and-how-can-you-prevent-them\/","title":{"rendered":"Ransomware Attacks: What Are They and How Can You Prevent Them?"},"content":{"rendered":"\n

Ransomware is a profitable business for cybercriminals. In 2017 alone, ransomware attacks cost the world $5bn<\/a>, both in terms of ransoms paid and the time and money victims spent recouping their losses. In this article, we\u2019re going to take a look at some of the groups and organizations that are most at risk from a ransomware attack<\/strong> and share five ways in which you can protect your data from hackers. <\/p>\n\n\n\n

Before we get into that, however, let\u2019s take a quick look at what ransomware is and how it works. <\/p>\n\n\n\n

What is Ransomware? <\/strong><\/h2>\n\n\n\n

Ransomware is a type of malware that encrypts a victim\u2019s computer or device data, holding files hostage until a payment is made<\/strong>. Attackers demand a ransom in exchange for a decryption key which can be used to unlock an infected device. The ransom amount will vary depending upon the scale of the attack. It could be anything from $700 – $1,000,000 in Bitcoin<\/a>. <\/p>\n\n\n\n

Who are the Targets of Ransomware Attacks?<\/strong><\/h2>\n\n\n\n

Not all ransomware attacks are targeted. This type of malware can spread automatically, infecting computers and other devices indiscriminately. However, because of its ability to encrypt and lock you out of your hard drive, this form of attack is often used by cybercriminals to target groups and organizations who can (and are more likely to) pay bigger ransoms to retrieve their data<\/strong>. <\/p>\n\n\n\n

The four main target groups of ransomware attacks are: <\/p>\n\n\n\n

1. Organizations that have smaller security teams, e.g. universities.<\/strong> <\/h4>\n\n\n\n

Universities are seen as a prime target, because in addition to having less security than other organizations, a lot of file sharing takes place across their networks. <\/p>\n\n\n\n

2. Agencies and institutions that can and will pay quickly. <\/strong><\/h4>\n\n\n\n

Government agencies, banks, and hospitals all fall into this category. These institutions need constant and immediate access to their files, they are perceived as being more likely to pay the attackers\u2019 ransom. <\/p>\n\n\n\n

3. Firms that hold sensitive data, e.g. law firms. <\/strong><\/h4>\n\n\n\n

Ransomware attackers may also threaten to leak data if their targets do not pay up. In this case, they are counting on the fact that law firms would rather avoid scandal or controversy than pay the ransom. <\/p>\n\n\n\n

4. Companies trading on the Western market. <\/strong><\/h4>\n\n\n\n

Cybercriminals are motivated by financial gain, which means targeting large, wealthy corporations. Corporate giants in the UK, USA, and Canada are most at risk, as they are richer and rely more on the use of personal computers.<\/p>\n\n\n\n

Even if your business does not fall into any of these categories, it\u2019s important to safeguard yourself against ransomware attacks. Keep reading to find out how you can prevent them (and what to do if your device gets infected). <\/p>\n\n\n\n

How to Prevent Ransomware Attacks<\/strong><\/h2>\n\n\n\n

There are a number of steps you can take to help protect your devices against ransomware attacks. It\u2019s good practice to: <\/p>\n\n\n\n