Ransomware: managing the threat

By David Morris, technology risk assurance director at RSM

Ransomware has risen from an unknown cybercrime to the fastest-growing threat to local businesses. Initiated by infected e-mails or websites, it is malware that locks users out of systems and requires payment to release files and data.

The financial burden of fixing or replacing affected machines can cause major cash flow issues. Any data losses caused by unresolved IT failures can also have a long-lasting impact on business reputation. The scale of problems caused by an attack often tempts businesses to cave in to hackerdemands. However, ransomware is a seriousform of extortion and payments should be fiercely resisted. Instead, there are steps that can be taken to mitigate the risk of successful attacks, and minimise problems if the worst happens.