5 more things to know about Ransomware

Anita Adiraj

Last updated 08/02/2024

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Ransomware attacks are getting more costly, which is one reason why you ought to have an episode reaction plan. Tom Merritt gives more data about this ransomware. 

Ransomware. You've likely heard about ransomware previously, and here we discuss it once more. It has not disappeared, and there are new things to know about.

5 additional things to think about ransomware

1. Your probabilities of getting hit with ransomware are still high.

As per the Coalition, probably the biggest supplier of cyber insurance in North America, ransomware episodes represented 41% of cyber insurance claims in the first half of 2020. 

2. Ransomware charges are coming quicker as well.

The Coalition reports that the recurrence of ransomware assaults rose 260% in the main portion of 2024. 

3. Ransomware is getting more costly.

The Coalition reports that the normal payment request expanded by 47% in the quarter of 2024. The Maze Ransomware Group was the most unique, with requests multiple times higher than normal.

4. Ransomware attacks are focusing on schools.

With more students doing work from home, there's a bigger attack surface to get into organizations. The primary day of school was the day of the drop in Hartford, CT, due to ransomware, and the Newhall School District in California shut down classes on September 15 due to a ransomware attack. These episodes aren't the main ones. 

5. Plan now.

The National Cyber Security Center says having an episode reaction plan can diminish the effect if the most noticeably worst occurs. Regardless of whether you don't believe you're in danger, you can wind up focused unintentionally; an arrangement can limit harm.

You know ransomware is a risk, and you incidentally realize you need a plan—you don't need anyone to disclose that to you. Possibly share this data with a companion or partner who isn't as ready as you seem to be.

It is of utmost importance to protect our systems and organizations from threats, breaches, and such ransomware attacks. We at NovelVista provide multiple training and certification courses in cybersecurity, including Ethical Hacking, CISO, CRISC, CISM, CISSP, CISA  and many more. For more information, go through our All Courses section.

Conclusion: Ransomware's on the rise! Get an incident response plan, NOW!

Ransomware attacks are hitting faster, harder, and costing more. Don't be a victim. Plan ahead:

• High attack risk: 41% of cyber insurance claims involve ransomware.

• Attacks are surging: Frequency jumped 260% in the first half of 2024.

• Costs are skyrocketing: Average ransom demands increased 47% in Q1 2024.

• Schools are targeted: Be extra vigilant if you're connected to education.

The National Cyber Security Center urges preparation: an incident response plan can minimize damage. Don't wait; share this information and get protected!

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