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Beware of Ransomware

Beware of Ransomware

What are the risks and how can you protect yourself?

Dominic Jaar

Partner and National Leader, Forensic Technology Services, KPMG Law LLP

KPMG in Canada


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Today's news cycles seem to be full of cyber security incidents and instances of hackers launching attacks on individuals and businesses. These events seem to be happening on almost a daily basis and in certain cases, on an unprecedented scale. Ransomware specifically has been one type of attack that has featured more prominently in the last year. In a report by the cyber security firm Malwarebytes Labs, their analysis showed a 90% increase in ransomware detections by corporate customers and a 93% increase in ransomware detections by consumer customers in 2017 when compared to 2016. Others in the industry have been reported as predicting the global annual cost to victims of ransomware will climb to approximately $11.5 billion, with attacks against businesses predicted to occur every 14 seconds by the end of 20191. As such, it is incredibly important to gain an understanding of ransomware, its risks, and what can be done to protect yourself or your business.

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