If you thought a worldwide pandemic and political turmoil were the only reasons to put 2020 in your rearview mirror, think again. In the IT world, there was a 100 percent increase in data breaches that included ransomware as an element of an attack, according to a recent report. Considering five of those breaches exposed 1 billion or more records and another 18 breaches exposed between 100 million and 1 billion records, it is a sure sign that cybercriminals are getting better at their job – and your cybersecurity infrastructure needs to keep up.  

Per the report, ransomware paired with data theft was in the spotlight for 2020. Among the 676 reported breaches, the number of breaches confirmed to have exposed payment card details fell by 48 percent. The speculation is there is a small number of malicious actors with the skills and perseverance to engage in the type of attacks that can yield substantial financial gains. That could mean these cybercrooks have moved on from selling sensitive data on the black market to more lucrative extortion schemes.  

Here’s where ransomware has stepped in. The move away from theft of personal information toward various encryption schemes has created ambiguity around whether data was confirmed to have been compromised. Either way, if you can’t access your data or if your IT operations are held hostage, malicious actors could force you to pay a ransom just to resume business as usual instead of trying to sell personal data on the black market.  

The number of breaches and the damage they cause can make any decision-maker’s head spin. Partner with an experienced IT Consultant firm like 2W Tech and let our experts do the heavy lifting for you. We are a technology service provider that specializes solutions for the manufacturing industry. We have IT consultants on staff who are experts in security solutions. Call us today to learn about our Cybersecurity Compliance Program.  

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