Chicago Businesses Lost Billions to Ransomware in Q1 2020

Chicago Businesses Lost Billions to Ransomware in Q1  2020


Due to the difficulties caused by the coronavirus pandemic, cybercriminals have been profiting hand over fist by exploiting the flaws in the security systems of unprepared businesses. The entire country has been struggling with this issue, yet Chicago alone has lose over 6 billion dollars in a period of a few months due to ransomware, spear phishing attacks, and fabricated wire transfers. The reasoning behind this uptick in attacks is obvious: more business is being conducted online than ever before. With this surge in activity comes opportunity for disaster, and cybercriminals have been cashing in on that opportunity: probing for flaws in the security systems of businesses worldwide. The most disheartening news among this is that it’s not only ransomware, but island hopping that’s on the rise – a type of attack that infects your network and uses its private data to attack your clients next.

Avoid a PR and financial disaster

If your business’ IT network gets compromised and your clients’ personal data is let loose onto the dark web, your chances of recovering from such a fiasco are slim to
none. Most businesses go bankrupt after a cyberattack, and those that barely survive have to push through the stigma of allowing their clients’ data to be stolen in the first
place. You would be the victim in this scenario, of course, but that wouldn’t stop people from thinking of you as negligent in maintaining your IT security. The best solution would be to ensure your network is being monitored and updated 24/7/365, which is easier said than done. Indiscriminately choosing an IT guy or MSP to service your network is a good way to cause more problems for yourself when they turn out not to be right for your needs. To truly pick out the right IT solutions for your network, you need to know what problems you’re specifically facing first. SRV Network’s team of engineers and our resources are available to help you find out: inquire on our free network security assessment offer to learn how your network’s security can improve and what steps you can take to make it happen, regardless of whether or not you decide to work with us!

For premiere IT Support & Services in Chicago, call SRV Network.

Call: 312.376.2910