3 Ransomware Myths Businesses Need To Stop Believing ASAP

By Justine Kurtz , Webroot

Despite the rising ransomware numbers and the numerous related headlines, many small and medium-sized businesses (SMBs) still don’t consider themselves at risk from cyberattacks. Nothing could be further from the truth. Smaller organizations are a prime target, and ransomware authors have only upped the ante in their methods to ensure they get paid. For example, many ransomware groups now threaten to expose or sell company data stolen in a breach if victims refuse to pay, meaning the business in question could have to shell out for heavy fines due to GDPR and similar regulations. In many cases, paying the ransom may be the most cost effective (and least publicly embarrassing) option. But what if your business can’t afford it? Or if the downtime from the attack is too much to recover from? And what’s the long-term psychological and emotional toll?

Here are 3 myths about ransomware that businesses need to stop believing to stay resilient against these evolving and insidious attacks.

Myth #1: My company is small, so attackers won’t bother.

Today, any business is a target for ransomware, no matter its size. Since 2018, up to 86% of SMBs have reported being victims of ransomware each year. And, according to Verizon, “[Ransomware] is a big problem that is getting bigger, and the data indicates a lack of protection from this type of malware in organizations.”