Reel Time Tech: Deep Dive into Ransomware Scams!
Ransomware Revealed: What It Is, What It Costs & How to Fight Back
If you think RANSOMWARE is just some IT department drama — think again!
It can take down hospitals, freeze entire city governments, and cost millions in damage. And the scariest part? It often starts with something as simple as clicking the wrong link.
This blog is your no-nonsense guide to understanding ransomware, fighting back, and avoiding some sneaky tech traps like Shadow IT. In this digital battlefield, knowledge is your firewall!
It's a global menace with billion-dollar consequences, and it’s only getting bolder. But don’t panic — in this blog, we’ll break it down: what ransomware is, how it works, what to do if you’re hit, and how something called Shadow IT is silently making everything worse.
What is Ransomware Anyway?
Ransomware is a type of malware that locks up your files and demands payment to unlock them. It’s like a digital hostage situation, and in recent years the bad guys have begun demanding cryptocurrecny instead of cash.
Common infection methods:
- Phishing Emails - the classics never die!
- Malicious links or attachments
- Exploiting unpatched software
- Credential theft (especially reused passwords)
In a lot of cases, it’s not just about locking files. Attackers also steal data and threaten to leak it unless the ransom is paid, leading to a double-whammy extortion!
The (Very Real) Cost of Getting Hit
According to IBM’s 2024 Cost of a Data Breach Report:
- The global average cost of a ransomware attack is nearly $5 million — and that’s without paying the ransom!
- In the U.S., the average breach cost is $9.36 million — the highest in the world!
- Only 12% of organizations said they’d fully recovered from a breach, and most needed over 100 days to do so.
- Business disruption, reputational damage, lost customers, and regulatory fines make up the bulk of costs.
Bonus stat: 63% of ransomware victims who brought in law enforcement didn’t end up paying the ransom.
The key takeaway: CALLING FOR HELP WORKS!
Cost of a Data Breach by Country or Region (IBM)
don't be an easy target!
Some ransomware attacks are hard to avoid, but a strong defense makes all the difference:
- Back up your data (and test those backups!).
- Keep software up to date
- Use antivirus + endpoint detection & response (EDR) tools.
- Enable MFA (multi-factor authentication).
- Train your team on phishing and safe practices.
I got hit - what do i do?
If ransomware strikes, here’s what the pros recommend:
- Don’t pay the ransom. There’s no guarantee you’ll get your data back.
- Disconnect from the network to prevent spread.
- Report the attack to the FBI at ic3.gov.
- Call in your cybersecurity team or an incident response partner.
- Preserve logs and evidence — you’ll need it for insurance, recovery, and potentially legal matters.
RECOVERING FROM A BREACH
Jeremiah School, President at DOT Security, recently spoke at our TechConnect event in Spokane, sharing the flow that should be followed if a data breach does occur:
- Consult Legal Counsel & start the fight on the right foot.
- Let your Legal Team complete a Forensic Investigation of the breach.
- Notify anyone who may have been affected by the breach - include what actions you've taken to protect their data!
- Monitor & Manage Public Relations - any damage control needed?
- Closely Monitor your Credit - being the victim of a breach makes you an easy target in the eyes of other scammers.
- Create a detailed Fraud Response Plan & be better prepared for the next attack!
Shadow IT - sneaky, backdoor data
You might be ransomware-ready — but what about Shadow IT?
Shadow IT refers to software, apps, or data systems that employees use without IT’s knowledge. Think personal Dropbox accounts, unsanctioned Slack channels, or that rogue spreadsheet full of company data, living in someone’s private Google Drive... not great places to be keeping this kind of data!
Here’s why it’s a ransomware magnet:
- IT teams can’t protect data they don’t know exists.
- Shadow data often lives in unmonitored and environments without backups.
- When ransomware hits, this data might be lost forever.
- 35% of breaches involved shadow data.
- These breaches cost 16% more (average: $5.27 million).
- They also took 25% longer to detect and contain — up to 291 days in some cases.
Taming Shadow IT - Bring that data to light!
- Audit your digital environment regularly — including cloud and remote services.
- Use discovery tools like Data Loss Prevention (DLP) and DSPM to find unmanaged data.
- Train employees to use approved platforms and report new tools.
- Establish clear policies on app and storage usage.
stay ransomware aware!
The internet can be a lawless place, which is why it's important to learn how to watch your own back & what to do when the bad guys attack! With the right mix of preparation, tools, and awareness, you can outsmart even the sneakiest cyber threats. Back up your data, patch your software, keep your team trained, and don’t forget to shine a light on Shadow IT — because the stuff you don’t see is often the riskiest!
Cybercriminals are clever, and personal education is key to keeping yourself, your team members & your family safe online. Stay alert, stay protected, and don’t let anyone hold your data hostage!
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