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Keeping Your Credit Union Data Safe: A Primer on Avoiding and Dealing with Ransomware

Like virtually all malware attacks, ransomware attacks are entirely preventable if you and your employees adhere to cybersecurity best practices.

By John San Filippo | Updated on June 01, 2016

Ransomware is malicious software, or malware, that blocks access to your computer system and essentially holds your data for ransom. If your credit union’s computers fall victim to ransomware, you’l be asked to make an anonymous ransom payment, typically in the form of bitcoins, to an equally anonymous hacker in exchange for removing the ransomware.

There are three levels of ransomware. The least dangerous is called “scareware.” In this scenario, fake antivirus software “identifies” a nonexistent virus on your computer and demands that you pay real money for a solution. The typical IT department can easily deal with this type of ransomware.

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