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Aaron Higbee, PhishMe co-founder and CTO, was featured on a recent CNBC SquawkBox broadcast segment discussing recent ransomware trends plaguing the healthcare space. During the attack, a phishing email is sent to the user’s inbox prompting them to click a malicious link that begins encrypting files and storage drives on your computer. Once the files are encrypted, the only way to retrieve the data from the malicious actors is to pay a ransom in BitCoin. In the video (seen below), Higbee dives deeper into the various motivations for these types of attacks and how businesses can better prepare themselves to thwart ransomware before it strikes.

“Ransomware has been with us for a number of years now,” noted Higbee. “It’s an embarrassing thing, because if you’re prepared and you have your files backed up, you can recover it without paying the ransom. By paying the ransom, what you’re essentially saying is, ‘I wasn’t backed up’ or ‘I didn’t have time to un-encrypt the files’.”

Watch the video below.