If an organization knows software patches have not been applied and takes no action to remedy the situation, they could be considered negligent and held liable, and suffer significant financial and public relations consequences.
Security researchers have recorded more than 45,000 cases of ransomware in the past 10 hours alone, most of which are taking advantage of a Microsoft vulnerability.
Ransomware is one of the most threatening malwares in the cyber industry, according to Carbonite’s Rise of Ransomware report, where 66 percent of IT professionals emphasize the seriousness of the issue, yet only 13 percent believe that they are prepared enough to prevent a ransomware attack.
Last year, cybercriminals attacked the California-based Hollywood Presbyterian Medical Center, encrypting files crucial in running the hospital’s operating systems and demanding a ransom to restore them to working order.
IBM Security announced results from a study finding 70 percent of businesses infected with ransomware have paid ransom to regain access to business data and systems.
A majority (95 percent) of U.S. companies want to see their IT security vendors offer a guarantee on their products and services, and 88 percent claimed they would change providers if they could find an alternate IT security vendor that offers a guarantee.
