"Ransomware is apparently more profitable than cocaine trafficking in the '90s, according to Coveware's recent report," said Beazley's Mark Singer. "It's also become just so easy to carry out. Ransomware as a Service (RaaS) has made it accessible to a much wider audience."
"I guess everyone's entitled to one good scare," said Sheriff Leigh Brackett in the original Halloween. However, even in the run-up to the traditional night of horror movies and candy, cyberthreats are arguably more frightening than the return of Michael Myers.
Lately, the news is sobering and scary indeed: A new survey from The Identity Theft Resource Center revealed that almost 60% of small business owners have had data compromised, a security breach or both. Furthermore, three-quarters of those owners reported having more than one event and a third of them had at least three. Following one of these events, more than 40% of businesses needed one or two years to return to normal, while over 25% said it took three to five years to recover.
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Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
