Back to | Breaking down Ransomware: How to protect your business?

October 27, 2023

The French-Lithuanian Chamber of Commerce and Nord Security co-hosted a remarkable event on October 24th, where our members had the privilege of delving into the pressing issue of ransomware threats and exploring strategies to safeguard their businesses. This informative panel discussion was graciously provided by Nord Security, held at the sprawling CyberCity. During the event, our members were also treated to an exclusive tour of the premises, offering a glimpse into the remarkable work culture and atmosphere at Nord Security.


Understanding the Ransomware Threat

The heart of the event was a thought-provoking panel discussion featuring esteemed experts from Nord Security, including Marija Gecaitńó, Aivaras Vencevińćius, and Sigita Jurkynaitńó. These experts shed light on the perilous landscape of ransomware, elucidating why businesses are targeted and what actionable steps can be taken to mitigate these threats.


Key Insights:

  1. Rising Ransomware Cases: Nord Security highlighted that there were over 2,000 recorded cases of ransomware attacks between January 2022 and January 2023 worldwide, underscoring the alarming increase in this cyber threat. However the number would be much larger as all companies do not always report it.
  2. Indiscriminate Targets: Ransomware attackers do not discriminate based on the size of a company. However, research indicates that small and medium-sized companies with 11 to 50 employees, as well as those with 51 to 200 employees, are the most vulnerable.
  3. Top-Targeted Industries: While ransomware attacks affect every industry, the top three industries that face the brunt of these attacks are Construction, Finance, and Manufacturing.
  4. Global Impact: The top three countries most affected by ransomware attacks are the United States, the United Kingdom, and Germany, emphasizing the global nature of this threat.

Interactive Networking Session

Beyond the enriching panel discussion, our event also featured a vibrant networking session. During this segment, our members had the opportunity to engage extensively with Nord Security experts, allowing them to gain deeper insights into ransomware protection strategies. The enthusiastic participation of our members and the experts’ willingness to answer their questions was a testament to the event’s success.


In conclusion, the French-Lithuanian Chamber of Commerce and Nord Security is committed to providing valuable information and resources to safeguard their businesses against the ever-increasing threat of ransomware. We extend our sincere gratitude to Nord Security for their invaluable contribution to this event, and we look forward to further collaborative initiatives that will empower our members to protect their businesses in an ever-evolving digital landscape.

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