When a criminal gains access to a computer system, encrypts all the electronic files, makes them unusable, and then demands payment, that criminal likely used ransomware on your system. The FBI discourages submission, and your insurance may not cover a ransomware payment.
By John J. Jablonski, JD
When a criminal gains access to a computer system, encrypts all the electronic files, makes them unusable, and then demands payment – usually in Bitcoin – to unlock the files, that criminal likely used ransomware on your system. According to the digital security company Symantec, the average ransomware demand in 2016 was $673. Demands are usually higher for attacks against small professional practices like doctor’s office and accountants. Criminals want to make money, but not ask for so much that the victim is unwilling to pay.
If paid, some criminals actually honor the bargain and unlock the files. Some even provide a hotline and “customer service” to help restore the computer system. Other criminals never unlock the files, even if paid. The FBI discourages payment, and your insurance may not cover a ransomware payment. Some victims refuse to pay out of principle, but when files are locked and work stops, the pressure really mounts to pay the ransom.
To avoid getting held hostage by ransomware, follow these tips.
John J. Jablonski, JD, is a partner with Goldberg Segalla LLP, where he is an authority in the areas of technology, privacy, and data security. He can be reached at jjablonski@goldbergsegalla.com.
John Jablonski will be one of the presenters at PICPA’s Data Privacy and Security for Professional Service Organizations program on May 24, 2017. This half-day CPE event will be held via webinar. Click here for more information.
Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.