Think about what happens when an organisation is subject to a cyber attack. IT systems may be frozen, or go down, private data may be stolen or published online and the entire process is a major inconvenience for all concerned.

But it isn’t just an IT inconvenience, there are consequences and repercussions for the entire business. In short, cyber attacks are not an IT risk, there are a business risk and should be treated as such. That’s why we believe that traditional approaches to managing IT risk are flawed and with that in mind have launched this week our new OXIAL IT GRC solution.

Ransomware was already the main type of malware in 2016, but appears to have become even more prevalent in 2017. Ransomware encrypts or hijacks files, with the user seeing a message asking for payment before they can access the files again. To avoid being traced, cyber criminals ask for payment in cryptocurrency such as Altcoin or Bitcoin.