That ransomware poses a sizable security threat to organizations is not news. The FBI’s Internet Crime Complaint Center (IC3), which provides the public with a trustworthy source for reporting information on cyber incidents, reported some 2,474 ransomware complaints in 2020. This reflects a whopping 225% increase in ransom demands due to ransomware. Those demands are thought to total $16.1 million in losses in the U.S. The amount lost to ransomware worldwide is on an order of magnitude greater than that.
In addition, the Cybersecurity & Infrastructure Security Agency (CISA) reported in February 2022 that it was aware of ransomware incidents within 14 out of 16 critical infrastructure sectors in the U.S.
But it’s not just big businesses and critical infrastructure that are being targeted. Ransomers are starting to target smaller organizations. Automation and increasingly sophisticated techniques are allowing criminals to scale their efforts to hit more of these smaller companies. And, without proper resources or protection, those smaller organizations are more likely to be vulnerable to such attacks—and to pay the outrageous ransoms.
Recoverability Renders Ransomware Useless
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Rijil is responsible for overseeing the day-to-day operations of Infobelt India Pvt. Ltd. He has been integral in growing Infobelt’s development and QA teams. Rijil brings a unique set of skills to Infobelt with his keen understanding of IT development and process improvement expertise.
Kevin is a co-founder of Infobelt and leads our technology implementations. He has in-depth knowledge of regulatory compliance, servers, storage, and networks. Kevin has an extensive background in compliance solutions and risk management and is well versed in avoiding technical pitfalls for large enterprises.