In conclusion, crypto-ransomware can sound very simple but it is a sophisticated threat that has grown over the past few years. This threat can cause companies to lose a lot of money and data if the companies do not have the right and enough security tools and an incident response implemented. Companies or organizations are very concerned about keeping their system and devices protected against this specific threat because threats/attacks are very difficult to detect. To make this attack happen the cybercriminals encrypt confidential data or files and make it unusable either from people or organizations to request a ransom or in other words “money” in order to release the data back, data that most of the time is not returned even after paying for the ransom and causes the user to get even more malware.
This report shows how much millions of ransomware attacks can cost. Financial loss is only one of the risks that come along with ransomware. These financial losses include companies and individuals being at risk of losing productivity, raising IT cost due to the loss of systems and devices and the need for network modifications, and the buy of new programs and services. Having the right security tools and incident response implemented can help companies avoid ransomware. There are different security tools such as security event managers to watch network activity and analyze the data in the server. Another tool is patch manager that can help keep the computer system updated. Other tools are antiviruses like Bitdefender that has ransomware protection capabilities. Also, there are programs to alert you of malicious activities as well as programs to stop ransomware attacks. But of course, since these attacks are sophisticated, individuals and businesses need to level up their knowledge in order to prevent their systems from being attacked
