About once a week, I go to Google news simply to read about the latest ransomware attacks. I can’t wait for the day when I am not presented with new results. Unfortunately, I continue to read about multiple new victims, as well as multiple new strands of malware. In 2019, over 200k organizations reported having files encrypted in ransomware attacks, which is a 41% increase compared to the previous year.

It was also reported that in the first part of 2019, the average payment for decryption keys to unlock files was about $80k.  The second half of 2019, the average payment for decryption keys to unlock files was just shy of $200k.

Another trend we are seeing is that every strand of malware that is released is becoming more targeted, sophisticated and costly. Costly in not only the direct attack, but the indirect costs of lost operations as well. Ransomware in its current state is the most widespread and financially damaging of any type of cyberattack.

There have been over 70 attacks on the government, proving that no one is safe. If your organization has not yet undergone a security audit to determine how secure your operating environment is, this needs to be your next step. 2W Tech is a full-service IT Consulting firm, specializing in solutions for the manufacturing industry. We have IT Consultants on staff that specialize in security solutions and can help you organization identify where your vulnerabilities are in an effort to keep you safe from ransomware attacks and other outside threats.

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