The True Business Cost of CryptoLocker and other Malware

CryptoLocker has cost Business an Estimated $3M USD

CryptoLocker and other viruses often hit the headlines for the disaster they bring both to businesses and the individuals.  Although it is clear that being locked out of your computer is distressing and unpleasant it is only when you realise the far-reaching implications of Cryptolocker that you realise the extent of the damage and the problem.

How Cryptolocker Works

Cryptolocker works by unleashing malware into a system.  It promptly applies an encryption on each file on your hard drive or server, making it impossible for you to access them.  You are then contacted and told you have to ‘pay a ransom’ to have your files released back to you.  A time limit is given for the payment, and if the payment is not received within the specified date they delete the encryption key to your files and you lose your files permanently.

The Real Problem – Business Reputation Damage

This is clearly catastrophic should your systems be infected with CryptoLocker or something similar.  The real problem, however, is the reputation damage your business will suffer.  If for example, you lost sensitive customer or client information you could face legal action, especially if you lost intellectual property or financial information.

Even if you did not lose client data, the damage could still be severe.  If your systems go down you may not be able to function as a business.  You could miss deadlines, and your reputation could plummet.  These are hard things to recover from in the main and your business could go under.

Recovering from a Cryptolocker attack often takes time. Could your business survive the time it takes for it to get back on its feet?  Would you have any clients left?

What if your Lost Data is sold?

Although the data is encrypted and unusable at your end, this does not mean that the perpetrators cannot access it.  If they can, you can be sure they are scanning it for its value.  Should it transpire that a data breech resulted in data loss that was subsequently sold on, the damage to your business reputation would once again be catastrophic.  Could you recover from a situation like this?

Insurance against data loss and reputation damage will only go so far.  Word spreads fast and quickly and soon your market will almost certainly shrink.

Protecting from Malware Attack

Given the chilling consequences of a malware attack it is vital that you take precautions to defend against it.  This comes in two forms.  One is to ensure your systems are ready from a technical perspective with regular server maintenance and updates, ideally from an experienced maintenance engineer.  They will have the tools to detect malware and remove it before it becomes a problem.

The next is education and this is arguably trickier.  The viruses are sophisticated in their own right and their delivery is cunning.  Many come through via email and are activated by unsuspecting victims.  Only through educating your staff can you hope to combat the problem.

Protect your Business from Virus Driven Disaster

We can help you protect your business from virus driven disasters, and mitigate the effects if you do suffer a malware attack.  Call 0121 667 8977 or email and we can provide the knowledge and the knowhow to minimise the risk of Cryptolocker and other malware.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Please complete the required fileds, marked *