Peckar & Abramson, Pc Welcomes Angela Connor, Freddy X. Muñoz, and Brian D. Waller to the Firm’s Partnership; Announces Additional Promotions to Senior Counsel and Senior Associate Ranks.
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7 ways to help your financial institution dodge ransomware attacks
Incidences of this cybercrime were already up before the pandemic. Now with how-to kits easily available on the dark web, more people have been drawn into this pernicious crime. Ransom demands have risen sharply, but the damage can be much worse than the dollars paid. Prevention requires both tech fixes and continuous vigilance.
Ransomware developers and affiliates have been telling victims they must pay the ransom or stolen data and internal company secrets will be publicly released. Unfortunately, not everyone has believed them. But now that these threats have been carried out, six and seven-figure demands have become routine among ransomware attacks with the average ransom payment in the second quarter of 2020 reaching $178,254, a 60% leap from the $111,605 average in the first quarter, according to the Coveware Quarterly Ransomware Report.