Very! Ransomware scams are profitable to these cybercriminals because exploits are becoming more sophisticated and publicized, causing more victims to payout. Hackers can spend days, weeks, or even months in an organization’s computer system undetected.
Given the amount of time a hacker can spend inside your network gives them the ability to cherry-pick your most valuable data. Once it is determined what would hurt your business the most, they proceed to encrypt and exploit your data by threatening to leak or sell your sensitive information.
Recent research surveyed IT professionals and found that of the organizations reporting a ransomware attack, 27% of victims chose to pay the requested ransom amount. When these types of companies decide to pay up, the hacker community wins.
The healthcare and legal industry are two of the largest targets for ransomware attacks. Sensitive client or patient information can be extremely profitable on the dark web because criminals can use it to commit identity theft.
When the Colonial Pipeline was victimized by a ransomware attack in May 2021, its operations came to an abrupt halt. Therefore, they decided to pay close to $5 million in Bitcoin to the hackers.
While ransomware scams are becoming more sophisticated and publicized, you can avoid being a victim. If you are not sure how well your files, endpoints, and network are protected, you can start by working with an MSP (managed services provider) like Bastionpoint Technology to remediate with a security stack, endpoint protection, and to put security safeguards in place. Feel free to give us a call at 804-612-9876 x2 and speak with our Sales or Onboarding Team about what services are right for your business or organization.