Garmin Surrenders, Pays Millions In Ransom…And Other Small Business Tech News – Forbes

Garmin Surrenders, Pays Millions In Ransom…And Other Small Business Tech News – Forbes


Here are five things in technology that happened this past week and how they affect your business. Did you miss them?

1 — Garmin reportedly paid millions to resolve its recent ransomware attack.          

Recent reports detailed that fitness device maker Garmin paid millions of dollars in response to an outage the company dealt with last month due to a ransom attack. The attack impacted several of Garmin’s systems, taking many of them offline. Although it is unknown who was responsible for the attack and who the ransom money went to, individuals researching the attack suspect the event could be connected to Evil Corp, a cybercriminal organization from Russia. (Source: Engadget)

Why this is important for your business:

Think about it: Garmin is a big company with plenty of IT resources and yet they fell victim to a ransomware attack and had little choice but to cough up the cash. What does this mean for your small business? It means that if hackers can extort money from a company like Garmin they can do it to you too…and probably easier. Backup
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