RANSOMWARE: WHAT IS YOUR DATA WORTH?

MARK NUTT, SENIOR VICE PRESIDENT, EMEA, VERITAS TECHNOLOGIES, WEIGHS IN ON THE AGE-OLD IT SECURITY QUESTION – SHOULD YOU OR SHOULD YOU NOT PAY RANSOMWARE?

- MARK NUTT

Ransomware attackers have been turning their gaze away from ordinary consumers as companies and enterprises offer more fertile hunting grounds, and the promise of much larger rewards than the average home user. For many hackers, attacking the little guy is no longer worth the effort.

However, this doesn’t mean our personal data is safe and sound. We all have data that is precious to us but looked after by somebody else. Dealing with almost any business today involves trusting them with some kind of data – whether it’s our medical records, financial information, shopping habits, family photos, or even our dating profiles.

If the data you share with a company is stolen or encrypted during a ransomware attack, retrieving it can be difficult. But should the company pay to have it returned? And what can you do as an individual to help keep your data safe in the first place?

To pay or not to pay?

Data can say more about you than any simple financial transaction. So, when your data falls into the wrong hands, the impact can be devastating. If a criminal steals money from you online, you can often be reimbursed by your bank, insurer or issuer; but if a criminal steals your data, they can hold power over you long after the event.