What Happens In A Ransomware Attack?

Hackers get businesses to download Ransomware viruses by tricking employees into clicking on phishing emails or exploiting software security vulnerabilities. Once downloaded, Ransomware’s objective is to lock up proprietary data, including backups, and even cloud data. The hacker then demands a crypto-currency payment to

unlock the data within a time window or destroy all the data.

Ransomware damages exceeded $5,000,000,000 in 2017. (https://blog.barkly.com/ransomware-statistics-2017)

What Are The Major Costs Associated With Ransomware?
Forensic Experts

Est. $350-$500/hour

PR Firm

Est. $200-$500/hour

Notification Costs

Est. $3 – $5/ Individual

Credit Monitoring

Est. $3 – $5/ Individual

Data Breach Attorney

Est. $400-$500/hour

Extortion

Variable $$

Business Interruption

% of Revenue

System Damage

Variable $$

What Happens In A (WTF) Wire Transfer Fraud Attack?

Hackers manipulate senior executive officers, employees, or clients with the intention of tricking the business or their client into wiring money into the hacker’s bank account. Successful unauthorized Funds Transfer Fraud hacking methods consist of stealing login credentials via phishing or key-logging malware, financial data manipulation, and corporate identity theft. Any business that is transferring money regularly is a target.