Ransomware Cost Businesses $1bn in 2016

Ransomware continues its dominance as the most lucrative criminal business model in the history of malware, costing businesses upwards of $1 billion in 2016.

By Tara Seals

According to KnowBe4’s 2017 Endpoint Protection Ransomware Effectiveness Report, antivirus solutions have a marked inability to protect against ransomware. About 33% of respondents have experienced a ransomware attack in the past 12 months; out of those, 53% had deployed multiple solutions against ransomware but still became victim to it. And about half (48%) of the total number of respondents (72%) who had downloaded KnowBe4’s ransomware simulator, RanSim, were not able to detect the simulator’s behavior, despite their antivirus deployments.

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Source: https://www.infosecurity-magazine.com/