In today’s digital age, every company is at risk from hackers. Question is not IF you will be hacked, but WHEN! Wire fraud schemes have become increasingly common and sophisticated. Security threats range from trivial ones to very serious, which can halt or even destroy your business.

One example is ransomware threat, which is difficult to spot. Ransomware encrypts all your data on entire network and asks you to pay the ransom if you want to receive decryption key and get your data back. If you don’t pay or you don’t have valid backup – all your data is locked and cannot be recovered without decryption key. Another problem is that EVEN you pay for ransom, nobody guarantees that you will receive decryption key, since all transactions are done on “Darknet” and via Bitcoins.

Here are some tips to protect yourself:

- Educate and train your employees about security (i.e. NOT to open and/or click on links in suspicious email).

- Always have the latest antivirus and operating system patches.

- Use strong password policies and have updated data breach response plan.

- Don’t forget to do multiple daily backups and include at least one offline backup!

- Remember: Even if you’ve received an email from one of your best friends, they could also have been fooled or hacked. That’s why you should remain cautious in any situation!

Against this backdrop, it is imperative that your organization guards against any possible payments fraud. Therefore, most companies opt for IT security analysis and “Ethical hacking” services, which identify possible security threats and suggests improvements.