{"id":9490,"date":"2017-08-28T08:00:57","date_gmt":"2017-08-28T13:00:57","guid":{"rendered":"http:\/\/taxprocenter.proconnect.intuit.com\/?p=9490"},"modified":"2017-08-28T08:00:58","modified_gmt":"2017-08-28T13:00:58","slug":"how-ransomware-may-affect-your-tax-practice","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/practice-management\/how-ransomware-may-affect-your-tax-practice\/","title":{"rendered":"How Ransomware May Affect Your Tax Practice"},"content":{"rendered":"

Most businesses depend on access to their network and digital data for daily operations. Certainly, tax professionals do. It\u2019s every owner\u2019s nightmare to be locked out of their own network and data, and it can be traumatic to boot up and see a red screen with a ransom note from a criminal on the other side of the world holding your data hostage. This is the growing threat of ransomware.<\/p>\n

The IRS recently warned tax professionals that ransomware attacks<\/a> are on the rise worldwide, as bad actors here and abroad infiltrate computer systems and hold sensitive data hostage. The IRS is aware of a handful of tax practitioners who have been victimized by ransomware attacks.<\/p>\n

Ransomware is a type of malware that infects computers, networks and servers, and encrypts data to prevent access. Cybercriminals then demand a ransom to unencrypt the data. According to Pensar<\/a>, the average ransom is about $679, but experts advise owners never to pay ransoms.<\/p>\n

In 2017, at least two major ransomware attacks have swept across Europe. The recent \u201cWannaCry\u201d virus ransomed data on 230,000 computers in 150 countries in a single day. In this case, victims failed to install critical updates to their Microsoft Windows operating system, which enabled the criminals to exploit a vulnerability.<\/p>\n

\u201cTax professionals face an array of security issues that could threaten their clients and their business,\u201d said IRS Commissioner John Koskinen. \u201cWe urge people to take the time to understand these threats and take the steps to protect themselves. Don\u2019t just assume your computers and systems are safe.\u201d<\/p>\n

The FBI warns that ransomware can be spread through phishing emails and links that redirect users to websites that may infect computers.<\/p>\n

Criminals usually demand a bitcoin<\/a> ransom be paid, in exchange for a key to decrypt the data. Victims should not pay the ransom. There is no guarantee the cybercriminals will provide the decryption key, even after a ransom is paid. Instead, IRS and law enforcement recommend prevention and backup procedures to avoid losing data to ransomware attacks.<\/p>\n

Tips to Prevent Ransomware Attacks<\/strong><\/p>\n

Tax practitioners should educate their staff and clients about growing cyber threats, including ransomware, phishing emails and malware from websites, and take steps to prevent being victimized. Here are some best practices to prevent ransomware attacks:<\/p>\n