Why Do Organizations Continue to Pay Ransomware?

Why Do Organizations Continue To Pay Ransomware

It is a strange title but true which leaves to wonder why do organizations continue to ransomware?

In one case a CEO was contacted in the middle of the night and made aware that cyber criminals have taken control of the IT infrastructure which contains patient care, CT scans, and lab work.

The hacker made their request for payment however rather than pay the ransom, the hospital CEO hired some IT consulting professionals to try and hack back into the network however it failed.

With all this time wasted, loss of profits, and additional IT consulting fees, the CEO was faced with two options. One option would be to pay the $17,00 ransom or not pay and put the information at risk. This meant leaking hundreds of patient’s medical records, patient history, medicine dosages, and other information critical to care.

Unfortunately, most executives and upper management have a passing knowledge that ransomware is a threat to their organizations.  They are unaware that ransomware code can be hidden in email, images, webpage, SMS text messages, and in videos.

Small businesses think they are safe, but it is more common for cyber criminals to hit a small business compared to a large enterprise.

Why Do Organizations Continue to Pay Ransomware (2)
Why Do Organizations Continue to Pay Ransomware (2)

And then there’s an added layer of unpredictability. Hackers want payment in Bitcoin – the crypto currency that is believed to be both anonymous and untraceable. But the price of Bitcoin fluctuates on the open market, sometimes radically. Large price swings could leave some victims paying far more than they expected.

Why Do Organizations Continue to Pay Ransomware? Simple.

Paying the ransom fuels the cybercrime machine.  It could also lead to more attacks on your business. By paying, you put a target on your back.  This shows cybercriminals that you are open and willing to pay.

Talk to your IT department or managed IT services provider to ensure they have built strong cyber security defenses. This should include proactively managed backups, strong passwords, updates, patches, white listing applications, and training employees not to click on suspicious links.

Our complimentary network and security assessment can put your IT infrastructure and business to the test.

365 iT SOLUTIONS is Toronto’s leading IT consulting boutique firm offering industry leading IT solutions including Managed IT ServicesIT Support ServicesIT Outsourcing ServicesTech Support Services and Cloud Services.


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