Small and medium-sized enterprises are being increasingly targeted by cyber criminals using ransomware, according to Chubb. Patrick Thielen, the senior VP of Chubb Financial Lines, said attackers were frequently using tools to target small businesses' vulnerabilities, such as unpatched software or weak employee passwords. "The threat is not just about a single company but it's also about an entire industry that relies on these companies," he said. Ransomware blocks a company's access to its network until a ransom is paid.
Small and medium-sized enterprises are being increasingly targeted by cyber criminals using ransomware, according to Chubb. Patrick Thielen, the senior VP of Chubb Financial Lines, said attackers were frequently using tools to target small businesses' vulnerabilities, such as unpatched software or weak employee passwords. It is therefore critical for businesses of all sizes to develop strong risk-mitigation strategies, he added. Ransomware blocks a company's access to its network until a ransom is paid.