Firms pay £200m in ransoms to hackers

If these attacks are netting £19 billion, it’s no wonder we’ve seen a rapid rise…:

Gangs of cybercriminals forced British companies to pay out more than £200 million in ransoms last year, experts have revealed.

The extortionists, many from Russia or Eastern European countries, are targeting well-known businesses with malicious software and then charging them tens of millions of pounds to regain access to networks.

Companies fearful of public embarrassment, lost data and fines from regulators are now showing “more willingness to pay the ransom”, experts said. It has allowed criminals to make an estimated £19 billion a year worldwide from the practice. Some are so successful that they have begun posting job listings on the dark web to attract recruits.

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Original article here