Hard Drive Recovery Associates: The Costs Of Ransomware

October 23, 2020 - /PressAdvantage/ - Irvine, California data recovery service Hard Drive Recovery Associates is pleased to announce that they have published a new blog post, titled 'The Costs of Ransomware'. This article goes into detail about the potential destructive power of ransomware and how to avoid it. The company has been operating for over 15 years, and in that time has successfully dealt with virtually all kinds of data loss situations.

Jack Edwards of Hard Drive Recovery Associates says, “While modern computer security is very well advanced, the flip side of that progress is that malicious software has also made similar strides. Today, ransomware is a major problem for both businesses and individuals, and attackers are implementing more covert and advanced techniques — while learning from the mistakes in implementation that occurred in earlier generations of attacks at the same time. This means that it is more important than ever that people know about ransomware and the extent of its potential for destruction.”

According to Hard Drive Recovery Associates, a new component in ransomware attacks are data leaks. Since data leaks make companies vulnerable, ransomware attackers have more ways to threaten a company. In the blog post, the company also goes on to point out that, in addition to businesses, even government institutions and entire towns have fallen victim to ransomware attacks. Data shared in the blog post shows that, in fact, there are reports that for every six towns in the state of Massachusetts, one is a victim of ransomware. While many of these towns recovered their files from backups, at least 10 handed over taxpayer money to hackers to unlock their data.

The blog post also shows that even institutions of learning are not spared. Niagara University had to cancel classes in the second week of February this year as their computer system came under attack, and the university’s IT personnel discovered on February 12 that ransomware attacks had caused some of their email servers to lock down.

The blog post says that ransomware is one of the new, greater dangers that businesses and institutions face in the modern world. According to Hard Drive Recovery Associates, what sets this new wave of ransomware cybercriminals apart from the older generations is that they have taken extortion to a new level by exposing data that they stole online, threatening whole batches of data if they do not get paid by the companies in exchange for unencrypting it.

Not only is being a victim of ransomware an exhaustive and potentially expensive experience, the unfortunate fact is that the road to a full recovery is likely to be quite expensive as well. In the blog post, the company shares information from Forbes.com that says, “It’s getting more and more expensive for victims of ransomware attacks to recover. The average cost more than doubled in the final quarter of 2019. According to a new report from Coveware, a typical total now stands at $84,116. That’s a little over double the previous figure of $41,198.”

In fact, ransomware can be so destructive that it can lead to businesses going bankrupt. Since ransomware can cost a business their data, cash and accounts, it will make their customers look for other options, which in turn leads to a loss of business. Further, direct costs in the form of ransom cybercriminals can reach thousands of dollars, and more losses are incurred due to indirect costs. However, there are strategies businesses can adopt to lessen their risk. These precautions come in a variety of forms, including protecting networks and computers from being attacked through security software, having extensive backups and more.

The full blog post on Hard Drive Recovery Associates’ website goes into further detail about ransomware and the problems it can cause. Edwards says, “It is true that ransomware attacks will make you feel helpless, but as long as you’re prepared for it, you can mitigate your losses severely. Plus, of course, if there is any data lost, an experienced data recovery company like Hard Drive Recovery Associates may be able to help you.”

Those who want to learn more about Hard Drive Recovery Associates and their services are welcome to visit the company's website to get started. Hard Drive Recovery Associates also maintains a page on Facebook where interested parties can both find new information and media and get in touch with the company. The company can also be contacted directly through their website. Alternatively, customers may reach Jack Edwards directly via email or phone.

###

For more information about Hard Drive Recovery Associates, contact the company here:

Hard Drive Recovery Associates
Jack Edwards
(949) 258-9465
jedwards@harddrivefailurerecovery.net
12 Mauchly #7
Irvine, CA
92618

ReleaseID: 60038810

Latest News

Stocks rise as China confirms trade deal signing next week

Nov 27, 2020

NEW YORK — U.S stocks climbed in morning trading on Thursday as investors cheered confirmation from China that its top trade official will head to Washington next week to sign a preliminary trade deal. The “Phase 1” accord is the opening step on a possible path toward a broader agreement between the nations. President Donald Trump has said he will travel to Beijing after the initial signing to start the second stage of talks. Every major index is on track for a record as Wall Street distances itself from a bout of anxiety over the last week because of tensions...

Space Force will start small but let Trump claim a big win

Nov 27, 2020

WASHINGTON — The Trump administration is celebrating the launch of Space Force, the first new military service in more than 70 years. In signing the 2020 National Defense Authorization Act that includes Space Force, Trump on Friday can claim a victory for one of his top national security priorities just two days after being impeached by the House. It is part of a $1.4 trillion government spending package — including the Pentagon's budget — that provides a steady stream of financing for Trump's U.S.-Mexico border fence and reverses unpopular and unworkable automatic spending cuts to defense and domestic programs. Space...

House passes $1.4T government spending bill amid impeachment

Nov 27, 2020

WASHINGTON — The Democratic-controlled House voted Tuesday to pass a $1.4 trillion government spending package, handing President Donald Trump a victory on his U.S.-Mexico border fence while giving Democrats spending increases across a swath of domestic programs. The hard-fought legislation also funds a record Pentagon budget and is serving as a must-pass legislative locomotive to tow an unusually large haul of unrelated provisions into law, including an expensive repeal of Obama-era taxes on high-cost health plans, help for retired coal miners, and an increase from 18 to 21 in the nationwide legal age to buy tobacco products. The two-bill package,...

Stocks rise on Wall Street as rally stretches to fourth day

Nov 27, 2020

NEW YORK — U.S. stocks rallied Monday, rising with European and several Asian markets following surprisingly strong reports on China's economy. Growth in factory activity and retail sales in the world's second-largest economy both beat analysts’ expectations for last month. That layered on top of optimism from last week’s long-awaited “Phase 1” trade deal between China and the United States, which removed some of the uncertainty that’s hung over businesses and investors. The interim trade deal is one of a “trifecta of positive catalysts” that swept through the market last week and could help support it through the end of...

Wisconsin Senate to vote on firing agriculture secretary

Nov 27, 2020

MADISON, Wis. — Wisconsin's Republican-controlled Senate prepared Tuesday to fire the state agriculture secretary appointed by Democratic Gov. Tony Evers, the latest in a series of skirmishes between the governor and the GOP that comes as Wisconsin is losing dairy farmers at a record pace. Republicans and Evers have been fighting since before Evers even took office. Republicans convened a lame-duck session to pass laws weakening Evers' power in December. This summer, Evers used his expansive veto to reshape the GOP-passed state budget, resulting in attempts in court and through a constitutional amendment to weaken his veto authority. And on...

Search
Financial Markets

About Us

Established in 2015, The Upstocker provides insights on financial reports, commentary, and investment data to traders so that you can make better investment decisions.

Contact us: sales[at]theupstocker.com

Subscribe Now!