In the near future you may walk into your office and find that your computer is locked up with a message on your screen to pay a hacker to access your files or they will self-destruct! I know this sounds like the opening of a Tom Cruise film, but it is becoming a reality for many businesses around the world every single day!
Cybercrime Magazine estimates that the cost of ransomware on businesses globally will reach $20 billion by 2021, and equates this to a cyberattack on a business every 11 seconds! Many more small businesses will be affected than bigger ones too—and the reason is hackers usually go for businesses who cannot defend themselves! Small businesses are extremely easy and profitable sources of income for many hackers and cybercriminals worldwide!
There are many ways to defend against ransomware and ways to help combat against it if a breach happens to your data! One of the first things that should be taken care of is talking to your insurance agent regarding Cyber Liability Insurance! You do not want to bear the burden or costs of weathering a cyberattack alone if you are a small business owner!