Ransomware. It sounds like a bad movie plot, but it’s very real and very dangerous. At its core, ransomware is a type of malware that encrypts your files, holds them hostage, and demands a ransom to set them free. It’s the digital equivalent of a highway robber—except this one works from behind a computer screen and often asks for payment in Bitcoin.
Over the years, ransomware has evolved from a nuisance into a multibillion-pound industry for cybercriminals. And yes, they’ve even gone professional with services like Ransomware-as-a-Service (RaaS), making it easier for amateur hackers to wreak havoc.
The current state of ransomware in the UK
The impact of ransomware attacks on UK businesses is staggering. Recent statistics reveal the severity of the threat:
- Prevalence of Attacks: Approximately 26% of British SMEs have been hit by ransomware in the past 12 months. (Source: SME Web)
- Financial Impact: Ransomware accounted for 34% of all reported cybercrimes in the UK in 2022, compromising data on more than 5.3 million people across 700 organisations. (Source: Veracity Trust Network)
- Operational Disruptions: The UK’s National Cyber Security Centre (NCSC) handled 430 cyber incidents in 2024, marking a 16% increase from the previous year, with ransomware identified as the most immediate threat to critical infrastructure. (Source: Reuters)
- Sector-Specific Incidents: In June 2024, a ransomware attack on Synnovis—a London-based pathology services provider—forced several hospitals to cancel operations and appointments, severely disrupting healthcare services. (Source: AP News)
These figures highlight an urgent need for SMEs to strengthen their defences against ransomware attacks.
The many faces of ransomware
Cybercriminals have developed a dizzying variety of ransomware, each with its own quirks and horrors. Here are the seven most common types to watch out for:
Double Extortion Ransomware
Locks files and threatens to leak sensitive data unless the ransom is paid.Ransomware-as-a-Service (RaaS)
Makes ransomware accessible to non-experts, increasing attack frequency.Crypto Ransomware
Encrypts files, rendering them useless unless a decryption key is purchased.Locker Ransomware
Locks users out of systems entirely, leaving them staring at a ransom note.Doxware (Leakware)
Steals sensitive data and threatens to publish it, causing potential reputational damage.Scareware
Uses fake alerts to trick users into paying for non-existent antivirus software.Fileless Ransomware
Operates stealthily, leveraging legitimate applications like PowerShell to avoid detection.
How to protect your business
To stay ahead of ransomware threats, adopt a proactive approach:
- Back It Up: Regularly back up data and store it offline. Find out more
- Stay Updated: Patch vulnerabilities in your software promptly.
- Educate Your Team: Train employees to recognise phishing attempts and suspicious links. Find out more
- Segment Your Network: Isolate critical systems to limit the spread of attacks.
- Invest in Protection: Use advanced endpoint security and AI-driven tools. Find out more
What to do if attacked
If ransomware strikes, follow these steps:
- Isolate Affected Devices to prevent the infection from spreading.
- Engage Experts to assess and mitigate the damage.
- Restore Backups if they are clean and up-to-date.
- Report the Incident to law enforcement and cybercrime agencies.
- Communicate Transparently with stakeholders to manage expectations and trust.
Ready to secure your business?
