Ransomware is bad, and you can’t take any chances with it if you want to keep your business safe. Understand that it might seem like we’re exaggerating, but we’re not; ransomware really is as bad as it comes, and when you’re faced with double or even triple extortion, you’ll be put in a tough spot that no business owner wants to find themselves in. Today, we want to cover what these terms are and why they’re so bad.
How Double-Extortion Works
If you refuse to pay a ransom, you’ll likely be targeted by double-extortion tactics.
During a ransomware attack, the cybercriminal might exfiltrate your data, i.e. steal it. They’ll create a copy of your data before encrypting it, then use that data to force a decision on your part. If you don’t pay up, they’ll leak the data online or sell it on the black market. It’s a tough spot to be in, and businesses that don’t know any better might actually pay up.
Unfortunately, double-extortion is far from the worst that could happen.
How Triple-Extortion Works
Triple-extortion dials up the threats and increases the stakes of not paying up.
If you’re really against paying the ransom and don’t care about data theft, a hacker might go all-in against you and put even more pressure on your organization to take action. They could launch a DDoS attack against your business, preventing it from recovering in a timely manner from the ransomware attack. They might even contact third parties like news organizations, law enforcement agencies, and customers to embarrass your company further.
With so much at stake in this situation, who could say no to paying the ransom?
(That’s a rhetorical question; you’re still not supposed to, and we’ll tell you why.)
What Should You Do?
Despite all these threats, you still shouldn’t pay the ransom, and you still haven’t exhausted your options.
When cyberattacks like ransomware strike, trust in your IT resource to get you through the situation safely and securely. Phantom Technology Solutions, for example, can help ensure your systems are backed up and protected to prevent these types of threats from reaching your business in the first place. In these situations, it’s always better to simply prevent the threat if you can, as responding to ransomware and trying to get rid of it is significantly more difficult than the former.
Ready to get started with better security practices? Phantom Technology Solutions is ready to jump on board and help you hit the ground running. Learn more today by calling us at (800) 338-4474.
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