With cybercrime damages set to cost the world $6 trillion annually by 2021, the pressure is on for cyber security teams across industries to defend their assets. This especially rings true for managed service providers entrusted to keep their clients' IT systems and environments protected.

Companies of all sizes are being attacked today because there are now more sophisticated attackers, and the attacks are broad-based and less targeted. Advanced forms of malware, like ransomware, are now major threats to businesses—and small- to medium-sized businesses (SMBs) are now the primary targets of these attacks. 

This presents a major opportunity to emerge as the cyber security leader your clients need to help them successfully navigate the threat landscape. But before you can start providing cyber security education and guidance, it’s crucial that you’re well-versed on the biggest threats to your clients’ businesses. 

How to Explain Ransomware

Ransomware is a type of malware that blocks access to a victim’s assets and demands money to restore that access. Ransomware-as-a-service makes it extremely easy for cybercriminals to rent the architecture needed to deploy attacks and collect money—fast.

As an IT service provider moving into the managed security space, it’s important to remember that communication is everything. With clients, you can define what exactly you’re protecting them against in an effort to focus on their top cyber concerns. Use the guidelines in the video above to learn how to effectively explain ransomware to your clients.