Ransomware Attacks & Tips - Small Business Recently Paid $150,000

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by a professional from Temple University
in New York, NY, USA

5yrs ago

Ransomware Attacks & Tips - Small Business Recently Paid $150,000

Came across an article of a small business with 8 computers getting extorted out of $150,000 from a Ransomware attack. The threat actors penetrated their systems through a phishing email.

redacted

It is right in line with a recent video that I posted providing tips to protect your business against Ransomware. You are never 100% safe, but precautions can be exercised to reduce the risk:

4 Ways To Get Extorted By Ransomware (The $84,000 Mistake): redacted

Questions: What are your thoughts on Cybersecurity Insurance? Do you have a process in place to monitor phishing emails?

1 Like

99 Views

reply by a searcher 5yrs ago
from Columbia University in New York, NY, USA

Buyers should expect to make this a part of due diligence. To the extent they find cyber security vulnerabilities, it can be a negotiation point. A professional audit is a very sensible approach. The business hand-over is a good time to do this as well, since many IT systems will be handed over in the process.

Insurance is a step, but it knowingly will not cover every issue. Employees (and former employees) can also be a big problem in this area. A substantial audit and a strategic plan for system management (and proactive security) are also important.

reply by a professional 1yr ago
from University of Southern California in North Palm Beach, FL, USA

Cyber risk has been dominating the news lately, hasn't it? Excellent tips in this webinar for due diligence, dealmaking, and transition of ownership. redacted M&A Attorney Justin Daniels on Cybersecurity Risks for Business