Cyber-Attacks Put 60% of Small Companies Out of Business — Don’t Be Next
Websites hacked. Corporate data leaked, Identities Stolen. The threats are real and growing. Seventy-five percent of all organizations have experienced a data/cyber security breach in the past 12 months.
Take a small online retailer in the Midwest. It seemed like just another ordinary day when one of the company’s employees received an email with a link to a seemingly benign catalogue. Little did the company know that the simple click of an email link was about to threaten their entire business. After the employee clicked on the link, the system was infected with Crytowall. The malware affected the company’s accounting software, customer account files, including credit card numbers, social security numbers, customer names and addresses, among other information.
The accounting software and customer files did not live on the employee’s computer; it lived on the company’s network drive. That meant the malware was able to encrypt over 15,000 accounting and customer files. Soon a ransom demand followed. The cybercriminals demanded $50,000 to provide the decryption key for the files. With the virus proving impossible to remove without the loss of crucial company data, the company had no choice but to pay up. Unfortunately, the company’s backup systems had not been working for months. So it had no recourse for restoring its files.
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