The Many Business-Crippling Impacts of a Ransomware Attack

The FBI has announced that it now has more than 7,000 decryption keys for the LockBit ransomware. Victims of a LockBit ransomware attack are encouraged to visit the Internet Crime Complaint Center at ic3.gov to obtain a decryption key for free. It could enable those organizations to recover their data, but sadly, it won’t make a dent in the ransomware scourge.

Ransomware Readiness

With digital extortion on the rise, organizations should develop detailed incident response plans.

In just a few short years, ransomware has progressed from a digital nuisance to a full-blown global crisis. Federal authorities say more than 4,000 ransomware attacks have occurred every day for the past five years, resulting in billions of dollars in damages to the global economy.

Immutable Storage Is Your Best Hedge Against Ransomware

Ransomware is a cash cow for cybercriminals, netting more than $350 million in ransom payments last year — although it is likely much more because many victims don’t report attacks in order to preserve their reputation. It’s easy money for the crooks because most companies just pay the ransom so they can regain access to their encrypted data and get back to business as quickly as possible.

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