Small and medium - sized enterprises are being increasingly targeted by cyber criminals using software , according to Chubb . Ransomware attacks use malicious software to block businesses’ access to their network until a ransom is paid. 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 security passwords . It is therefore critical for businesses of all sizes to develop strong risk - management strategies , he said . Software blocks a company 's access to its data until a fee is paid .
Small and medium - sized enterprises are being increasingly targeted by cyber criminals using software , 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 security passwords . It is therefore critical for businesses of all sizes to develop strong risk - management strategies , he said . Software blocks a company 's access to its data until a fee is paid .