Ransomware is a particularly nasty form of cyberattack that can hit many types of businesses and people. These attacks can potentially disrupt businesses or cause significant headaches due to data loss. They can be challenging to recover from. In cases of actually following through with ransom demands, it can also be frightfully expensive.

Here are ten things you should know.

It’s not a new thing

While the profile of ransomware has risen due to greater awareness, it’s far from being a new problem. In the early 80s, enterprising hackers had infiltrated early systems, encrypted data, and held it hostage for ransom exchange. In 1989, the crime took the next step by automating it with the AIDS Trojan ransomware attack, which was distributed on floppy disks handed out at the World Health Organization’s AIDS conference.

Who is vulnerable

Pretty much anyone. While the most popular victims are businesses or entities with access to a large amount of funds and a reputation to protect, even small companies and individuals have fallen victim to ransomware attacks. Large-payout perpetrators of ransomware tend to be more targeted for investigation and prosecution. Smaller attacks do not always get the same attention due to limited resources on the part of law enforcement.

Irrespective of the size of your business, ransomware can be a major problem.

How ransom payment is arranged

Bank transactions can be traced, and cash drop-offs carry too many physical risks to cybercriminals. Bitcoin and other virtual currencies are the preferred ransom payment methods as they’re more challenging to trace.

Dealing with ransomware mails

Have a proper sense of caution with emails. Don’t click on links in emails from unknown or suspicious sources. Also, avoid opening any email attachments from senders you don’t know or are not sure about.

In particular, attachments that ask you to enable macros should be disposed of immediately. This is a common method for spreading ransomware.

Attacks often sneak past typical security measures

Ransomware enters many computer systems via links shared through legitimate-looking emails. Many of these emails are skillfully crafted to look like trusted companies and vendors, or they’re worded in such a way as to present a tempting offer. Users who lack basic cybersecurity sense can believe that these emails are from legitimate sources and will provide their information or accidentally install malicious files. When that happens, ransomware gets a free pass into the network.

When ransomware attacks

What happens when a piece of ransomware software infects your computer? There are a couple of possibilities. Often, it encrypts all of your data, making it worthless without a key to undo the encryption. Or it could lock down your system and block all your access to your data. Or both. To get access back, the person or persons behind the attack will demand a payment of some kind. Usually, if a business or individual is unwilling or unable to meet the ransom demand, those files are lost forever.

Ransomware relies mostly on human error

The emails attackers most often use as an avenue of distributing the ransomware look very legitimate. Some even make persuasive pitches that the email recipient needs to take some action (such as updating a password to an account via a link). The success of these harmful emails relies on people being convinced of their legitimacy. In fairness, some can be very difficult for the average user to detect.

Even if you pay, there is no guarantee you’ll get your files back

Perhaps you’ve heard the phrase, “There is no honor among thieves.” Just because you’ve fulfilled the attacker’s demands doesn’t mean they will always hold up their end of the agreement. Some may demand more money. Some may release a portion of the data and hold the rest for more ransom.

Some might just disappear without releasing any data at all.

Everyone is a target

Large-scale ransomware attacks get the most news, but small-to-medium-sized businesses fall prey to these attacks as well, as do individuals sitting in their own homes. Some attackers prefer large numbers of low-payout ransoms as opposed to large-scale attacks. Computers make it easy for them to run thousands of scams all at once.

So don’t think it could not happen to you.

Steps you can take to protect your data

Here are a few things you can do to keep from falling victim to ransomware:

• Keep regular backups with at least one being saved on an external device not attached to the rest of your system.
• Update your firewalls and email filters.
• Train employees on smart email use and how to recognize a phishing email or potential ransomware threat.
• Contract with a reputable third-party IT security service provider

Dealing with a significant threat

Ransomware can cripple your business and cause severe disruption of operations, and ransom demands can be expensive. That doesn’t mean you can’t take steps to guard against such attacks and raise awareness of the threat. Make sure everyone who has access to your computer or system receives some basic cybersecurity training and knows to avoid suspicious emails.

Early prevention is often your best defense.