You regularly hear in the news about ransomware attacks on businesses or individuals. Whether you know what this entails or not, you’d prefer to simply prevent a ransomware attack—especially if your business handles sensitive data. Cybercriminals can hold your systems hostage using a specific type of software, rendering them unusable. They often demand a ransom to release the system. Both small and large companies face these kinds of attacks, so it’s always good to know how you can protect yourself against them!
What is ransomware?
Research by the British security firm Sophos shows that a ransomware attack costs a company an average of $1.82 million. But what exactly is ransomware? Ransomware is another term for malware, and it refers to malicious software that takes computers and files within the system hostage. Cybercriminals use it to encrypt your system or computers, rendering them unusable. They often threaten not to release the systems until you pay a ransom. And, of course, we’re not talking about a few dozen dollars.
How does ransomware get onto your computer?
There are several ways ransomware can infiltrate your system or computers. People often say that the system has been “infected” with the malware. After all, it is a type of computer virus. You can accidentally download ransomware through links, emails, email attachments, and online ads. Additionally, cybercriminals can launch targeted attacks on a company’s servers to try to get the malicious software into the system. Once the ransomware is inside, it blocks access to the computers, the system, or specific data. This can cause companies to come to a complete standstill.
5 Tips to Protect Your Business Against Ransomware
If your system gets infected with ransomware, it can have a lot of serious consequences for you and your business. Naturally, you want to prevent that at all costs. Below, we’ve listed 5 tips to help you protect your business against ransomware!
1. Back up your data regularly
If you ensure that your systems and data are properly backed up, you’ll be less affected if cybercriminals encrypt your computers. After all, you’ll have all your data and systems stored in an external location. This makes it easy to restore your files and get back to work. Many organizations use this method as a safeguard against cyberattacks.
2. Never wait too long to update
Software vendors are often the target of ransomware attacks. That is why they are constantly searching for vulnerabilities in their software and working to fix them. They implement the improvements they find in the form of updates or patches for the software. The sooner you install updates as a user, the better, because it means you’re less vulnerable to cyberattacks. Companies often tend to delay installing such updates, since they usually require a system restart. This can lead to delays in the production process. Nevertheless, we always recommend that you install updates immediately. After all, a ransomware attack will cost you far more than a 15-minute downtime!
3. Try to minimize human error as much as possible
Ransomware attacks are often the result of human error. For example, cybercriminals try various methods to obtain employees’ login credentials in order to gain easy access to the system. This is why it is crucial that your employees’ accounts are properly secured with more than just a password. For instance, implement MFA throughout the entire organization as an additional layer of security. Also, make sure to keep your employees constantly informed about the tricks cybercriminals might use and test them occasionally if necessary. Companies often do this by sending out a suspicious email and seeing how many employees still click on the link in the email. Providing training on cybersecurity never hurts either 😉
4. Antivirus software doesn't block everything
Many smaller businesses believe they are sufficiently protected if they use antivirus software. Unfortunately, this is far from always the case. If you use a good antivirus program that detects ransomware, you are largely protected, and the risk of infection is lower. However, we always recommend taking additional measures, as antivirus programs unfortunately cannot detect all malicious software. After all, many cybercriminals take this into account when developing malware.
5. Establish a clear protocol
Make sure you have a clear protocol in place for your employees so they know what to do in the event of a cyberattack. This will enable them to respond quickly—for example, by restoring data from external backups or calling a contact person who can assist with the situation!