Saturday February 22, 2020

Firms being held to actual ransom by a new wave of cyber criminals

Ransomware attacks - when a company’s data is encrypted and they are blackmailed for the key - is now a $1 trillion industry, and attacks are on the rise, writes Emmet Ryan

Emmet Ryan

Technology Correspondent

24th February, 2019
Ronan Murphy, chief executive of Smarttech247 Picture: Cathal Noonan

One of Ireland’s top IT security firms paid out €500,000 worth of bitcoin in ransom for its clients in just the first six weeks of 2019.

Smarttech247, which is headquartered in Cork, had to do this due to an increase in the sophistication of attacks from cyber criminals.

“Cybersecurity is a global issue now. It’s insane the ramifications it’s having,” Ronan Murphy, chief executive of Smarttech247, told The Sunday Business Post....

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Co-founder predicts €4 billion plus market for special microchip used in mobile phones, cars and wearables

Emmet Ryan | 2 weeks ago

Search giant to pay undisclosed sum for Dublin-based firm that helps local retailers sell online

Róisín Burke | 1 month ago

Irish business signs partnership with Canadian firm Instant Brands to bring more users to its platforms

Emmet Ryan | 2 months ago