Mortgage companies that pay ransomware set a dangerous precedent

A 2017 data breach investigation study by Verizon revealed 24% of breaches that year affected financial organizations. The success of mortgage companies falling victim to cybercrime through ransomware attacks entices hackers to target more companies in the same industry segment.

According to the Securities and Exchange Commission, the average cost of a cyber-data breach rose from $4.9 million in 2017 to $7.5 million in 2018. AT&T’s “Cybersecurity Insights Report” estimates cybercrime damages will cost the world $6 trillion annually by 2021.

This white paper explores the danger and risks of ransomware attacks targeting mortgage companies while also highlighting what to do to protect and prevent falling victim to ransomware in the first place.

Publisher: Access Business Technologies
Date: November 2019

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