{"id":5542,"date":"2021-09-22T11:25:23","date_gmt":"2021-09-22T11:25:23","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=5542"},"modified":"2021-09-22T11:25:23","modified_gmt":"2021-09-22T11:25:23","slug":"youre-safe-from-ransomware-if-you-have-r6-4bn-lying-around","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2021\/09\/22\/youre-safe-from-ransomware-if-you-have-r6-4bn-lying-around\/","title":{"rendered":"You\u2019re safe from ransomware \u2013 if you have R6.4bn lying around"},"content":{"rendered":"\n

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Ransomware attacks have massively increased since the start of lockdown. Here\u2019s what you need to know to protect your company.<\/p>\n\n\n\n

When hackers targeted Transnet\u2019s computer systems in late July this year, logistics at major ports ground to a near-halt for the second time in a month (following the protests and looting) as the company was forced to switch to manual cargo processing. \u201cThe IT industry has seen a massive increase in ransomware attacks since the start of lockdown, when companies\u2019 digital footprints increased as remote work became the norm,\u201d says Marilyn Moodley, Country Leader for South Africa and WECA (West, East, Central Africa) at SoftwareONE. Problematically, many organisations unfortunately only realise too late that ransomware protection is a business issue and not an IT issue.\u201d<\/p>\n\n\n\n

This past year, JBS SA, PPS and Life Health Care group\u2019s hospitals were just some of the companies that made headlines after similar attacks \u2013 at massive cost not only from a financial perspective, but also in terms of downtime and job losses. Sophos\u2019 State of Ransomware 2021 global report showed that the average cost of remediating a ransomware attack in South Africa is R6.4bn.<\/p>\n\n\n\n

In the first 100 days of the lockdown alone, Mimecast<\/a> researchers detected huge increases in spam attacks (up 46%), impersonation attacks (up 75%) and malware, which spiked by 385%. Nearly half (45%) of the South African respondents said ransomware attacks had impacted their organisation. \u201cAnd not only large corporates are at risk – but attackers also see SMBs as an ideal target because they are unlikely to have sophisticated defences,\u201d says Moodley.<\/p>\n\n\n\n

How it works<\/strong><\/p>\n\n\n\n

Ransomware is a type of malware that infects a computer or device and attempts to force a victim to pay a ransom to regain access to files \u2013 or to prevent sensitive information from being leaked.<\/p>\n\n\n\n

In most cases, the malware is installed on a system after a user clicks on a link or downloads an attachment. \u201cBy now, most users know not to click on the link in an email congratulating them on a massive inheritance from some unknown uncle \u2013 which would likely lead to a system infection. But the attacks are more sophisticated than ever. Now, an email could seemingly come from your boss sending you an employee appreciation gift card or could feature a dangerous attachment posing as an invoice from a client. Just clicking on a link, without installing anything, can download a ransomware code,\u201d says Moodley. Despite 99% of South African respondents in the study having received IT security awareness training, half still admitted to opening emails they considered suspicious.<\/p>\n\n\n\n

Protecting your business<\/strong><\/p>\n\n\n\n

\u201cToday, the question isn\u2019t if you will get hit by a ransomware attack, but when,\u201d says Moodley. She offers these essential tips to protect your business:<\/p>\n\n\n\n