How to Protect Your Business From Ransomware Attacks
Have you avoided falling victim to a ransomeware attack? If you’re one of the lucky ones, you might be next.
According to figures uncovered by KPMG, around one-third of companies have fallen prey to a ransomware attack in the past two years. In recent years, there has been a rise in the number of ransomware attacks targeted towards large companies. Many cybercriminals see businesses as key targets for online attacks. thanks to the wealth of sensitive information they store on their systems.
The first ever ransomware attack was documented in 2006. A 2016 survey of over 300 businesses, by Intermedia, unearthed that 72% of businesses infected with the cyber virus could not access their data for at least two days; sparking a domino effect that led to lost data, decreased sales, and reduced customer satisfaction.
Such studies pinpoint the damaging impact that ransomware can have on business operations. But what exactly is ransomware and how can you protect your company from falling prey to it?
What is Ransomware? A Look at the Digital Ransom Note
Ransomware is an increasingly-common online virus that hijacks computer hard drives and locks user access until a ransom has been paid. There are two main ways in which ransomware can infect your system. In the first scenario, criminals use an unbreakable key to encrypt important company files (named Cryptolocker).
In the second case, cybercriminals lock company computer screens. This prevents employees from using the system (referred to as a CTB Locker). In both instances, cybercriminals demand a ransom in return for control of the system. Ransoms are usually paid using an untraceable digital currency, such as Bitcoin.
How Can You Protect Your Company from Falling Victim to Ransomware?
Falling victim to ransomware can be a stressful and expensive. Luckily, there are there are three simple and powerful ways you can protect your company’s IT system:
- Backup Your Files
The main way in which you can protect yourself from a potential ransomware attack, and recover an infected system, is to ensure that you have a backup system in place.
Roman Hussy, a digital security expert and blogger, notes the necessity of having all of your files backed up, “The golden rule is performing backups frequently and never pay any ransoms, as this motivates the attackers to keep carrying out their attacks.”
- Know What to Look For
It’s important to brief everyone in your company on how the virus is most frequently delivered by cybercriminals. When it comes to ransomware – ad popups, emails, and infected websites can all be potential poisoned digital apples.
- Keep Your Anti-Virus Software Updated
New ransomware threats arise on a regular basis. Make sure your anti-virus software is up-to-date to keep your company’s IT system safe from malware threats. Updates can help beef up your IT system’s security by providing new software patches that are designed to tackle the latest in ransomware attacks.
Keep Your Company Safe
Ransomeware attacks are on the rise. Bringing anxiety and stress to companies across the industries. These simple steps will help protect your company’s IT system from any potential ransomware infections and will result in minimal fallout, in case you find yourself the victim of an attack.