How small businesses can protect their financial data

GOVERNMENTS and businesses around the world are still reeling from the malicious cyberattack in May this year by "WannaCry", a ransomware worm that has so far impacted an estimated 230,000 computers across 150 countries.

The unprecedented success of the cyberattack has exposed major shortcomings in the current approach of both governments and businesses towards cybersecurity.

Ransomware is a type of malware that encrypts and holds hostage the sensitive, vital and private information of governments, businesses and individuals and requires them to pay a ransom to release their information.