Article | 1:02 min read

What is Ransomware and Protecting your Devices

Grow Your Business

Ransomware is a type of malware used by cybercriminals.

Ransomware illustration with technical background

Ransomware is a dangerous consequence of falling for a phishing attempt. Ransomware is a software that locks down data by encrypting it, and the fraudster won’t unlock your data via decryption until you pay the ransomware.
According to Cofense and the National Cybersecurity Alliance, the average cost of a ransomware attack is $4.62 million. In 2021, the total cost of ransomware attacks was $220 billion. Within the last year, 32% of organizations paid a ransom, but only recovered 65% of their data. By 2023, ransomware will cost its victims around $265 billion annually, with a new attack every 2 seconds.

Here are some tips to protect your business from ransomware:

  • Implement user training and phishing exercises to raise awareness about the risks of suspicious links and attachments.
  • Make sure your business's antivirus software is up to date and running. It’ll help stop ransomware before it affects your business.
  • If you use Remote Desktop Protocol (RDP), secure and monitor it.
  • Make an offline backup of your businesses data.

Don’t let cybercriminals bring down the business you put your heart and soul into. Even if you’re short on time, money, or resources, there are still many ways to effectively secure your business. The most important thing is to just get started.


The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its subsidiaries and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.