Ransomware Attacks Targeting Hospitality Industry

Ransomware Attacks Targeting Hospitality Industry https://wahospitality.org/wp-content/uploads/2017/12/TFT-Ransomware.jpg

By:  Dustin McCreight

The recent upsurge in ransomware attacks – 6,000% increase since 2016 – could be a wakeup call for all businesses, especially the hospitality industry that is increasingly becoming a target for malicious attacks. Cybercriminals have devised numerous deceptive methods to infiltrate computer systems, encrypt data and demand ransom to release the files.

Ransomware attacks cause major disruption to the operation of a business and result in over 70% of victims paying the ransom. For those who have chosen to pay, 50% paid more than $10K and 20% paid more than $40K to avoid losing significant down-time for their business. These costly payoffs can be particularly burdensome for a small business.

In a cybersecurity study of small and medium-sized businesses with less than 1,000 employees, nearly half of these businesses have been the victim of cyberattacks. Fortunately, there are preventive measures you can take to help avoid falling prey to attacks like the recent WannaCry ransomware.

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