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The Growing Threat of Ransomware - Holding Data Hostage [POLL]

Posted December 22, 2015by Mary McCoy

The Growing Threat of Ransomware - Holding Data Hostage [POLL]

"With upcoming new variants and the success of the “ransomware-as-a-service” business model, we predict that the rise of ransomware that started in the third quarter of 2014 will continue in 2016." 

This prediction comes courtesy of the McAfee Labs 2016 Threat Predictions report and is particularly worth noting as MSPs head into the New Year. Many of you battled the CryptoLockers and CryptoWalls of 2015 and have the scars to prove it. But how do you compare to your peers as far as volume of attacks and level of threat prevention? Take our poll now!

According to the Counter Threat Unit (CTU) at Dell SecureWorks, of nearly 625,000 CryptoWall infections discovered between mid-March and August 24, 2014, 1,683 victims (0.27%) paid the ransom, for a total take of $1,101,900 over the course of six months.

The CryptoWall clan welcomed a new ransomware variant to the family. Learn how CryptoWall 4.0 differs from previous versions here.

 In Q1 2015, McAfee Labs registered a 165% increase in new ransomware. Want a forecast of what 2016 may have in store for you? Webroot released their top security threat predictions for 2016!

 In 2016 Trend Micro Security Predictions: The Fine Line, the firm predicts that 2016 will be the year of cyber extortion and social engineering schemes, with a "significant increase in successful ploys designed to persuade employees to transfer money to a cybercriminal-controlled account." 

Partner, CMIT Solutions reminds us of the importance of a solid BDR solution in protecting client data that may have been compromised by ransomware such as CryptoWall in their post, 4 Ways to Fend Off CryptoWall, the Latest Ransomware Virus Threat:

"Businesses should be creating comprehensive image-based off-site backups multiple times a day. If a virus like CryptoWall hits a 20-person firm at 4:00 PM, and that firm has to rely on an encrypted backup from the night before to get up and running again, those employees will lose an entire day of work." 

If you answered anything other than "very confident," it could be time to reevaluate your current BDR solution...

Learn more about BDR with our eBook – Hope for the Best, Plan for the Worst: The Keys to Effective Backup & Disaster Recovery


Meet Mary! Mary McCoy is a Senior Demand Generation Programs Manager at Continuum, where she's worked for over two years. Mary has consulted with hundreds of partners, lending website, blog and social media support. Before that, she graduated from the University of Virginia (Wahoowa!) with a BA in Economics and served as digital marketing intern for Citi Performing Arts Center (Citi Center), spearheading the nonprofit’s #GivingTuesday social media campaign. Like her school’s founder, Thomas Jefferson, Mary believes learning never ends. She considers herself a passionate, lifelong student of content creation and inbound marketing.

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