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.