Present-day malware is groundbreaking enough to slip under the radar of traditional defenses. Cybercriminals have plenty of time and resources to test their perpetrating code extensively. The malicious code can then potentially circumvent regular detection mechanisms and raise no red flags for days on end.
It is crucial to decide beforehand what the organization would do if it has contractual agreements to deliver vendor or client data, but it cannot do so because that data is encrypted. Some additional force majeure type clauses may have to be inserted in all the contracts if possible stating that if the organization is under Ransomware attack and the data is still encrypted; it will not be able to provide it.
Over the past three years, ransomware has come prominently into the limelight of the cyber threat scene, it is the fastest growing malware threat, and organizations have paid US$ 209 million in Q1 2016 through ransomware, FBI estimates US$ 1 billion losses in 2016 because of ransomware.