Ransomware: How You Can Protect Your Business

September 12, 2022

Knowing how to fight against ransomware is essential to protect your business from irreversible harm is critical. Businesses have become popular targets for cyber attacks. Ransomware is a common malware that prevents people from accessing their files or computer systems. The criminals then demand payment of a ransom under the threat of withholding, destroying, or leaking sensitive information.

What Is Ransomware in Cybersecurity?

There are three essential elements involved in a ransomware attack:

  • Access: cybercriminals must gain initial access to the computer system to deploy malware
  • Trigger: attackers obtain control and encrypt the company’s data when the malware is activated
  • Demand: criminals alert the victims that data has been encrypted and will not be released until a ransom is received

Types and Costs of Ransomware

Ransomware typically appears as one of two types of cybersecurity threat: locker ransomware, which targets data on computers, or crypto-ransomware, which targets devices. Either type carries the threat of loss of finances, information, or business reputation. Payouts from ransomware increased 83% in one year, from an average of $312,000 in 2020 to $570,000 in 2021, and each attack results in an average of three weeks of downtime while recovering.

Types of Cybersecurity to Prevent Ransomware Attacks

Experts have some tips for preventing these harmful attacks. Here are some things your company should do.

Provide Training

Making employees aware of cybersecurity threats is a critical first step to preventing malicious cyber activity. Social engineering attacks are standard methods of distributing malware, and these are less successful when employees are vigilant about suspicious emails and requests for personal information. Ransomware also can strike through physical intrusion. Thus, employees need to know the signs to watch out for, and they can accomplish this with good training.

Phishing Simulations

Security awareness training rises to the next level by delivering employees realistic yet phony phishing emails. These test messages are often eye-opening experiences for staff members and offer data regarding your staff’s ability to spot a criminal tactic. Combining training and testing improves your company’s likelihood of thwarting the effort of cybercriminals to breach your systems.

Monitoring Threats

Your likelihood of falling victim to cybercrime decreases by monitoring potential threat activity. A monitoring tool that collects data from multiple sources provides you with information to help in your defense against malware. This preview of potential threats shows the areas of your business most vulnerable to a data breach or cyberattack. Taking a proactive approach enables you to detect suspicious behavior early to employ countermeasures.

Endpoint Protection

Endpoint protection is essential for identifying and protecting vulnerable assets so you can repel potential malware attacks. This protection goes beyond the benefits of antivirus software with advanced protective features that safeguard your computer network and connected devices against malware and phishing threats.

Cybercriminals are always on the lookout for cracks in your computer system. Stay ahead of them with training, testing, monitoring, and enhanced data protection.

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