Ransomware : Steps to Protect your Business

In today's digital landscape, ransomware poses a significant threat to organizations of all sizes.

From a survey conducted with 1,263 companies, 80% of victims who submitted a ransom payment experienced another attack soon after, and 46% got access to their data but most of it was corrupted. (Cybereason, 2021)

Additionally, 60% of survey respondents experienced revenue loss and 53% stated their brands were damaged as a result. (Cybereason, 2021)

Attacks are often facilitated through malicious emails which have seen a dramatic increase in the last few years. It is not unusual for an IT team to spend the majority of its resources just responding to phishing attempts.

The following resources are provided to help you not be a victim.

Steps to Protect Your Organization:

1. Understand Risks and Impact: Assess the potential risks to your business and understand the potential impact of a ransomware attack on your day-to-day operations.
2. Secure Email Communication: Utilize cloud-native secure email services to enhance the security of your communication channels.
3. Implement 2-Factor Authentication: Strengthen user authentication by implementing 2-factor authentication across all accounts. Many platforms offer this feature for free, such as Microsoft and Google.
4. Frequent Backups: Regularly back up your critical data to mitigate the impact of ransomware attacks. Backing up your data daily serves as a crucial lifeline in the event of an attack.
5. Keep Software Updated: Ensure all software and devices are updated with the latest patches and security features to address potential vulnerabilities.
6. Utilize Next Generation Antivirus Software: Deploy reliable antivirus software to detect and prevent ransomware infections before they can cause harm.
7. Strengthen Passwords: Encourage the use of complex passwords and consider implementing password management tools to enhance security.
8. Exercise Caution with Downloads: Avoid downloading free software or drivers from untrusted sources, as they may contain malware.
9. Review Cyber Insurance: Evaluate your current cyber insurance coverage to ensure adequate protection against ransomware-related losses.
10. Cyber Awareness Training: Educate employees about the risks of ransomware through comprehensive cyber awareness training programs.
11. Develop Incident Response Policies: Establish clear incident response and notification policies to streamline the response process in the event of a ransomware attack

By taking proactive measures and staying informed, you can effectively mitigate the risks associated with ransomware and protect your organization's valuable assets. Remember, prevention is key in the fight against cyber threats.

Additional Resources

Newsweek : Your Money or Your Data: Ransomware Viruses Reach Epidemic Proportions

Akamai : Ransomware on the Move: Evolving Exploitation Techniques and the Active Pursuit of Zero-Days

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