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Volume 30, Issue 4

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Thursday, 10 August 2017 21:54

Five Ransomware Strategy Mistakes CIOs Often Make

Written by  DARIN PENDERGRAFT

Of all the ways cyberattacks have become crippling in recent years, ransomware may be the most ruthless. The scope of the recent WannaCry attack was unprecedented, but ransomware has been costing businesses billions of dollars globally for years. This year alone, global ransomware damage costs are predicted to exceed $5 billion – up 15 times within two years – according to Cybersecurity Ventures. Early attacks look almost primitive now, with viruses that impersonated federal agencies or software companies demanding licensing fees. Smart criminals channeled their early gains into creating more advanced software; today’s ransomware is typically clever and well-disguised, tricking users into visiting compromised sites or opening a legitimate-looking email. It only takes one employee to fall for a ransomware scam and launch an invasion that locks an organization’s files. Which is why endpoint protections, while valuable, cannot be the only answer to the ransomware challenge. Patching servers and building a