Ransomware Payments: Yes or No?

Consider the following nightmare scenario:

You show up to work one morning, and everyone is in a panic. Your computer system is down, as it was infected with ransomware. The ransomware has cascaded across your network, infecting all of your critical customer and employee databases in the process.

The hackers want $50,000 to remove the ransomware, or they will destroy all of your data.

Now, you have a difficult decision to make. Should you comply with the hackers and make the ransomware payment, or seek an alternative resolution?

Suffice to say, this is not an easy decision to have to make. Understand that most law enforcement officials and IT experts are advising business owners to avoid making ransomware payments. Ransomware payments, after all, are not always guaranteed to work. Oftentimes, hackers will take the money and run, deleting the data in the process. And just recently, news broke that hackers are now stealing ransomware payments from one another.

What’s more, you don’t know what type of organization you are supporting when you make a ransomware payment. Your money could easily be going to a terrorist group. Making payments also perpetuates cybercrime and encourages hackers to keep doing it. After all, ransomware is very profitable.

The easy response to this is to say that your data is safe because you have backup systems in place to protect your critical information. But many businesses are learning the hard way that data backup systems are expensive, and take a long time to implement. One hospital, for instance, recently chose to pay hackers $55,000 after it was hit with ransomware as it was cheaper and more efficient than going through the process of firing up its backup system.

The truth is that there are no easy decisions to make when it comes to dealing with ransomware. It’s going to be time-consuming. It’s going to be expensive. And it’s going to put your company’s sensitive information at risk from hackers. The worst part about it, too, is that it’s almost unavoidable. At some point, your business is probably going to get hit with ransomware.

Consider the fact that a company is hit with ransomware every 40 seconds. And 15 percent or more of businesses in the top 10 industry sectors have been attacked with ransomware.

One of the best things that you can do to protect your organization from ransomware is to focus on employee education and awareness. This is not, in other words, a problem for your contact center alone. It’s every employee’s responsibility to know where ransomware hides (mostly in spam emails, online advertisements and apps) and to avoid reckless behavior online.

Taking the time to educate your employees about ransomware could save you from experiencing a costly and devastating ransomware attack.