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Over One Third of Firms Hit by Ransomware Blitz

26/06/2015 by Sharon Shahzad

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More than one third of corporates have been hit by ransomware attacks or know a company that has, according to new research from security vendor ESET.

The firm polled 200 security professionals at the annual Infosecurity Europe event in June and found additionally that 84% believe their company would be seriously damaged if it were successfully infected with ransomware.

Almost one third (31%) admitted that if their corporate networks were infected they’d have no choice but to pay the ransom in order to have mission critical data decrypted again.

Although all ransomware attempts to extort money from the victim, there are several variants which set about it in a slightly different way.

These include early versions of so-called ‘police-themed’ ransomware which disguises demands to look like official warnings from the local constabulary – requiring payment of a fine to settle a made-up offense.

Reveton is probably the most famous of these variants.

More recently, malware writers have introduced even more dangerous versions which typically encrypt the victim’s files until a ransom is paid, whereupon they receive the decryption key.

CryptoWall and CryptoLocker are among the most infamous of this type of ransomware.

In fact, an FBI notice earlier this week claimed that CryptoWall has cost US victims in excess of $18m since last April.

This article has been extracted from http://www.infosecurity-magazine.com, please click on this link to read the article in full http://www.infosecurity-magazine.com/news/enterprises-struggle-to-combat/

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, Enterprise Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

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