Is your business ready to deal with ransomware?
ANGLER, Cryptolocker and Locky - no, you'll not find them in Pokemon Go, but you may find them on your computer one day. They're types of ransomware which is emerging as a major threat to individuals and businesses alike.
Ransomware, a type of malware that encrypts data on infected systems, has become a lucrative option for cyber extortionists. When the malware is run, it locks victims' files and allows criminals to demand payment to release them. The standard rate is about US$500, often paid in bitcoins, though we've seen much higher.
Cybercriminals behind ransomware campaigns typically focus their attacks in wealthy countries and cities, hence Singapore is becoming a real target.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
SMEs
Applications open for Emerging Enterprise Awards 2024, now in its 17th year
As airports expand, Singapore SMEs can tap opportunities
Sun rising for Singapore businesses breaking into Japan market
One in three Singapore SMEs expect AI to replace or take over jobs: survey
Fintech KPay aims to triple Singapore merchant base, double local workforce
Singapore SMEs in contractionary mode for fifth straight quarter: OCBC