Tips to Protect Your Business From Ransomware Attacks
Learn how to protect your business from ransomware attacks. Look at the importance of data security for small businesses. Find out how managed IT services help.
Ransomware Prevention For New Jersey Companies
In 2018, businesses faced 204 million ransomware attacks. On average, these attacks cost companies about $130,000 in lost productivity and expenses related to discovering the attack, dealing with the damage, and alerting customers. Still, the real costs may be even higher when you take into account the effects on the business’s reputation and its ability to retract and retain customers after an attack.
Cybercriminals don’t just attack large companies — shockingly, over 70% of ransomware attacks target small businesses. Is your small business prepared? Does your cybersecurity policy address these types of attacks? Here is what you need to know about ransomware.
What Is Ransomware?
Ransomware is a type of malware that encrypts your files, folders, databases, and other info until you pay a ransom. Typically, the attackers request bitcoin or other cryptocurrencies to avoid being tracked. Theoretically, when you send the cybercriminals the money, they provide you with an encryption code so that you can access your files.
However, criminals aren’t known for honesty, and these thieves don’t always follow through with their promises. Paying a ransom never guarantees that you can regain access to your files. In some cases, the scam artists demand many ransoms or even disappear without ever allowing you access again, and then, you lose time and money in addition to potentially crippling amounts of data.
How to Protect Yourself From Ransomware Attacks
To protect your business against ransomware attacks, you need a substantial business continuity and disaster recovery plan. The continuity portion of your plan should outline how your business is going to keep running in the event of a breach. At the same time, your disaster recovery policies need to focus on detecting and responding to attacks. Still, even more importantly, these policies need to include proactive elements to protect your business from cyberattacks.
Cybersecurity Essentials to Prevent Ransomware Attacks
The right practices are crucial to minimizing your risk of a ransomware attack. Ideally, your business should implement the following tips:
- Back up all your data daily, both on-site and in the cloud. Having multiple copies of your data gives you a layer of defense from ransomware attacks because even if cyber attackers take control of your databases, you can still rely on your back-up files.
- Never click on attachments without verifying the authenticity of the sender. Delete any attachments that look suspicious. Approximately 67% of ransomware attacks start as spam or phishing emails.
- Provide staff members with cybersecurity training and make sure to update training regularly as threats change. Over a third of ransomware attacks are due to lack of training, and a quarter of attacks are due to poor user practices or gullibility.
- While training employees cover the importance of using strong passwords. Also, consider implementing dual-factor authentication, such as requiring employees to enter a password and click a link in their email or enter a code from a text message. About 30% of these attacks stem from weak passwords and access management issues.
- Invest in quality cybersecurity tools, including antivirus, antimalware, DNS filtering, firewall services, and more.
Choosing the Right IT Services Company
To adequately protect your business from ransomware and other types of attacks, you need the right IT services company. Choose your IT firm carefully and look closely at their experience and credentials. Make sure they understand the best security practices, are committed to keeping up with changing threats, and have extensive experience protecting other companies in your industry or area from cyber threats.
Ideally, you need a company that can customize a security solution to meet your enterprise’s unique needs. You need cybersecurity policies that complement your programs and workflows while addressing your unique threats and concerns.
To learn more about how to protect your business from ransomware attacks, contact us at Atlantic IT today. We provide IT services, cybersecurity, cloud technologies, and more for large and small corporations in New York, New Jersey, Pennsylvania, and the rest of the country.