Ransomware is becoming a huge problem. No longer are criminals eyeing up big banks, vaults, or safes. They’re targeting (mostly) big corporations with something to lose.

Have you ever seen a pop-up window appear where you must call xxx-xxx-xxxx in order to fix the virus on your computer? Better yet, had a call from “Microsoft Support” stating that they need to clean the virus on your computer for $300? Similar to this, Ransomware is a way for criminals to assign a lock to your data; however, the criminal is the only one that knows the combination to unlock your data and return it to you.

In 2016, the FBI estimated that damage costs were approximately $209 million between January and March.  If you were a criminal out for “easy money,” this would be quite the revenue stream in deed!

If you’ve ever wondered how ransomware payoffs can be catapulting to the billion-dollar mark in 2016, consider this: The study found 70 percent of these executives said their company has paid to resolve the attack, with half of those paying over $10,000 and 20 percent paying over $40,000 [survey by IBM Security].  Wow.

Have you been caught by surprise or know someone who has? Let us know in the comments below, or find us on twitter @letusgetnerdy. On the flip side, share what you do to prevent yourself from learning this expensive mistake!

 

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