While spam emails annoy computer users, ransomware is a bigger potential risk, says Patrick Traynor, co-director of the Florida Institute for Cybersecurity Research at the University of Florida.

Hackers send innocentlooking e-mails with links that, once clicked, insert software — ransomware — into a computer that prevents users from accessing files, and puts the computer under the hacker’s control. The computer owner then gets a message demanding payment to regain control of the data.

“Spam has become very difficult to make a profit from,” says Traynor, who joined the innovative UF institute when it was formed four years ago, but “there’s major, major money to be made” from ransomware.

Researchers at the institute have developed antiransomware software and spun off a company called CryptoDrop to market the software to the public.

CryptoDrop is different from traditional anti-virus software because it doesn’t block ransomware from reaching your computer. Instead, it monitors your files to determine if any have been corrupted by ransomware and stops it from spreading.

“Your traditional anti-virus software is great at protecting you from yesterday’s threats,” says Traynor, but it can’t stop new viruses that haven’t been seen before. He says CryptoDrop can detect new threats.

Users may lose a few files before CryptoDrop identifies the problem, but Traynor believes that’s better than a full-scale takeover by a hacker. “We think that’s a pretty good tradeoff,” he says. “If you lose a handful of files, it may not be that big of a deal.”

More BUSINESS Briefs from Northeast Florida

ALACHUA — The city is getting $6.75 million from the Florida Job Growth Grant Fund to build the San Felasco Parkway, the largest of several grants for Northeast communities. The road will connect a large bioscience cluster to a 280-acre site ready for development. Elsewhere in the region, the fund is giving a $6-million grant to build a 1.5-mile access roadway at the Cecil Commerce Center in Jacksonville to support manufacturing businesses; a $3.14-million award for the North Florida Mega Industrial Rail Project, which will give developers access to a 2,600-acre industrial park in Columbia County; and a $3.13-million grant for water supply and fire protection to the I-75 and CR 136 interchange in Suwannee County. Surgical implant company RTI Surgical bought Zyga Technology, a spine-focused medical device company with $4 million in annual revenue.

GAINESVILLE — Liberty Health Sciences, an investor and operator in the medical cannabis market, acquired 387 acres from Alico Citrus Nursery, where it will create an innovation hub. The University of Florida is consolidating four technology commercialization entities into one called UF Innovate. The new organization includes UF’s Ventures unit, which helps create startup companies, and its tech licensing department. It will also have two business incubators, Sid Martin Biotech and the Innovation Hub.

JACKSONVILLE — A year after TIAA bought EverBank, the company decided the merged bank will be named TIAA. That means the name of Jacksonville’s football stadium will change from EverBank Field to TIAA Bank Field. EverBank signed a 10-year naming rights deal for the stadium in 2014. After cutting 4,600 jobs last year, including consultants, CSX expects to cut another 6,200 over the next three years, with a goal of getting to 21,000 workers by the end of 2020.

The first commercial satellite launch from Cecil Spaceport could come in December, but director Todd Lindner says it will more likely happen in early 2019. Cecil is one of six U.S. spaceports authorized to launch vehicles horizontally. Atlanta-based Generation Orbit is planning the launch.

Rayonier Advanced Materials gave a seat on its board to activist hedge fund Marcato Capital. The agreement prevents Marcato from launching a proxy fight against Rayonier. The University of North Florida is building a satellite campus downtown in the historic Barnett Bank building.

JACKSONVILLE BEACH — Omaha-based Medical Solutions is buying PPR, a provider of travel nurse staffing services. Terms of the deal were not disclosed.

A portion of the Jacksonville Beach Pier reopened 17 months after damage from Hurricane Matthew forced it to close. Only about 625 feet, nearly half, of the structure was able to open, as officials consider design criteria for the remainder.

PLAYERS

• David Szymanski will be the next president of the University of North Florida. Szymanski was dean of the college of business at the University of Cincinnati. He succeeds John Delaney, who retires this month.
• Attorney Kevin Hyde, chairman of UNF’s board of trustees, will also become interim president of Florida State College at Jacksonville, with current President Cynthia Bioteau retiring May 31. Hyde had just finished leading the president search at UNF when he was offered the FSCJ position.
• Anthony Jabbour became CEO of mortgage technology company Black Knight, succeeding Tom Sanzone, who will become vice chairman. Jabbour was COO of banking technology company FIS. Black Knight and FIS were spun off from Fidelity National Financial. All three are headquartered at the same campus in Jacksonville.

 

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