It is every employer’s worst nightmare: an unsuspecting employee receives an email in the early morning from an individual claiming to be his supervisor. The email asks him to follow up on an urgent work assignment that needs his immediate attention. With multiple deadlines fast approaching, he does not think twice. He opens the email and attached file, and prepares to work. Within minutes, the entire system—including all confidential and proprietary data, timekeeping records, and payroll records stored in it—becomes inoperable and shuts down. The attacker delivers a single message to the employer: pay the ransom in exchange for the data or risk losing all the files.
Ransomware attacks are on the rise, and employers are increasingly being targeted. By some estimates, in the first seven months of last year alone, reports of ransomware attacks showed a staggering 62% year-over-year increase. Ransomware is a form of malicious software that can infect and lock down a target’s network. While some malicious actors demand ransom in exchange for decryption software, others simply steal the company data regardless of whether a ransom is paid, often leaving victims with no way to tell what the attacker has accessed or taken. Needless to say, ransomware attacks can disrupt operations across the company and result in the loss of trade secrets, sensitive commercial information, personal data, and even medical documents.
More than ever before, it is imperative for employers to stay...
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