Ransomware is Something That All Businesses Should Avoid

Ransomware is a serious issue for businesses. How serious?

Think “$265 billion in costs by 2031” serious. In light of this, every organization needs to do everything possible to avoid falling victim to ransomware. Let’s touch on a few practices that will help.

Ransomware is Bad for Businesses

If your business were to be impacted by ransomware, you’d find your files encrypted, with just a note left accessible, instructing you to deliver a ransom payment in cryptocurrency. Obviously, not having access to your business’ essential resources is a problem, but your troubles wouldn’t stop there. First of all, ransom demands are regularly in the thousands to hundreds of thousands of dollars. Secondly, if you are able to scrape together the funds to pay the ransom, there is absolutely no guarantee that your data access will be restored.

No, it is much better to not lose your access in the first place. What follows are a few ways to help minimize your risk of falling for ransomware.

Best Practices to Avoid Ransomware’s Impacts

Backup Your Data
If your data should be encrypted by ransomware, having a spare copy to revert to can make your life so, so much easier. We recommend that this backup follows the 3-2-1 Backup Rule to ensure that you have access to a backup in about every situation. Not sure what that is? Reach out to us and ask about it!

Train Your Team
Many modern cyberattacks—particularly phishing attacks—more directly target business users instead of trying to technically overcome a targeted business’ cybersecurity protections. Teaching your employees (and yourself) to spot the various ways that ransomware is commonly spread through scams can help keep these issues from darkening your business’ door.

Eliminate Vulnerabilities
The more secure your business’ systems are in general, the less risk you face from various threats. Therefore, it pays off to ensure that all applicable patches are applied in a timely manner, your company emails have all the appropriate filters in place and configured, and different resources are properly isolated based on needs or applicable privileges.

Limit Privileges
On the topic of privileges, you can also reduce the damage that any one attack (ransomware or otherwise) can cause by dividing up your company and its network based on your users’ requirements. As you do so, we recommend that you follow something known as the principle of least privilege. Basically, you only provide access to what is necessary for what a team member’s role calls for, nothing more.

Again, Capital Technology Group can assist you in protecting your company’s resources. Reach out to us at (501) 375-1111 to learn more.