Ransomware is highly hazardous to IT infrastructure because cybercriminal gets access to your system then all your files will be encrypted, Unless you pay the ransom otherwise all your files will be gone.
In the year 2020 alone in the U.S., ransomware gangs hit more than 100 federal, state and municipal agencies, upwards of 500 health care centers, 1,680 educational institutions, and untold thousands of businesses, according to the cybersecurity firm Emsisoft.
Many billions of Dollar losses, Accurate numbers are elusive. Many victims have not reported the incidents due to fear the reputational damage.
Imagine a hospital unable to access patients’ data or a financial institution unable to manage its customers’ accounts? What would you do to get that data back?
Ransomware is one of the biggest cybersecurity challenges on the internet and one of the biggest forms of cybercrime that organizations face today.
Why Ransomware is highly hazardous?
- Ransomware utilizes unbreakable encryption, which makes decrypting affected files impossible or nearly impossible.
- It can encrypt just about any type of file, whether it be audio, video, documents, or pictures.
- Ransomware can scramble file names, making it difficult if not impossible to know exactly what was affected.
- This dangerous software can change the extensions of your filenames, making them function in unpredictable ways or not functional at all.
- Ransoms attached to ransomware typically have time limits. Exceeding the deadline often means the ransom amount will increase, or even the data will be destroyed altogether.
The criminal syndicates that dominate the ransomware business are mostly Russian-speaking and operate with near impunity out of Russia and allied countries.