Ransomware is one of the fastest growing cyber security problems that IT consulting companies in Toronto deal with. In fact, it has grown from 4 million in 2015 to over 638 million in 2016. The majority of attacks happen when victims open infected emails or click on pop-ups, enabling malicious code to travel throughout the computer, which eventually locks down. A message is then displayed, which demands that the victims transfer money (typically a specific amount of bitcoin) to regain access to their computers. If the victim is an administrator with access to multiple computers, ransomware can lock out each computer, which may result in shutting down the whole company. The rise of “ransomware-as-a-service” (RaaS) has significantly contributed to the spread of ransomware, as it allows more cyber criminals access to this malicious form of software.
Here are a few more ways that RaaS has caused widespread havoc throughout the IT industry:
Ransomware-as-a-service is designed to be easily accessible for a wide variety of users, even those without programming skills or sophisticated equipment. Advanced criminals write the code for this malicious software, but they make it readily available for anyone to download and use. Sometimes they charge a small fee, while other times it is free. Nevertheless, the accessibility of ransomware has made it much easier for anyone to use, contributing to a dramatic increase in attacks.
Besides being cheap and easy to download, ransomware can spread rapidly in only a short amount of time. Many corporations are turning to IT consulting companies in Toronto to combat against these cyberattacks. With RaaS allowing anyone access to ransomware, it is more readily available than many other forms of cyberattacks. Ransomware can be more lucrative than stealing someone’s identity, and there is a lower risk of being caught when payments are made through Bitcoin.
Ransomware attacks can result in excessive costs in only a short amount of time. Many companies pay the ransom because they cannot afford to be shut down for an extended length of time. Large corporations have paid millions of dollars in ransom because they were unable to find the source of the attack. As long as companies pay these criminals, ransomware will continue to be one of the most popular cyberattacks.
As you can see, the use of ransomware-as-a-service has become a major concern. Companies that rely on IT consulting in Toronto can avoid becoming the next victim through the use of the latest security updates. At Fusion Computing Limited, we offer the latest security to help businesses avoid becoming the next victim of ransomware. Using the latest technology, our technicians specialize in helping businesses of all sizes assess their risk and protect themselves from cyberattacks. Contact us today and let us help guard your business from the ever-changing threats in today’s world.