"Your Business Should Compensate for Modern Ransomware Capabilities Right Now"

Companies of all sizes and industries are becoming increasingly common targets for ransomware attacks, with 94 percent of organizations experiencing a cyberattack just last year. Nonetheless, many businesses continue to use decades-old security systems incapable of combating today's sophisticated ransomware attacks. There is a widespread misconception that ransomware attacks are on the decline. In actuality, ransomware incidences increased 200 percent year on year in the first quarter of 2022. Meanwhile, the increased availability of Ransomware-as-a-Service (RaaS) implies that cyber threats have become a commodity for cybercriminals. The RaaS model presents a new and unsettling trend to company leaders and Information Technology (IT) professionals. RaaS is a ransomware subscription model that enables affiliates to execute ransomware attacks for a fee, thus lowering the entry barrier for hackers. The relatively inexperienced nature of RaaS hackers may explain why the average ransomware downtime has decreased from almost two months in 2018 to 3.85 days on average in 2022. While the decrease in attack length is encouraging, the emergence of RaaS indicates to business leaders that all firms are at risk. All firms should expect to become targets eventually, which is why IT and business leaders must implement stringent cybersecurity policies immediately. Organizations are encouraged not to appease or compromise with ransomware agents. Business and IT leaders have access to the same Artificial Intelligence (AI) and Machine Learning (ML) technologies that hackers use, meaning corporate cybersecurity can be just as effective. In order to prevent cyberattack collateral damage, decision-makers must immediately implement a ransomware security strategy. Oftentimes, comprehensive protection measures require a third-party provider for security insights or monitoring capabilities. However, business and IT leaders should only select Ransomware Protection-as-a-Service (RPaaS) solutions that provide adaptable tactics for cloud, on-premise, and hybrid data centers. This means that whether an organization expands or contracts, its cybersecurity package can scale without the need for new software. This article continues to discuss notable ransomware attacks, the need for organizations to prioritize a proactive security strategy, and cybersecurity in hybrid work environments. 

VB reports "Your Business Should Compensate for Modern Ransomware Capabilities Right Now"