Cyber-threats are now evolving faster than ever, and ransomware is one of the most dangerous. Ransomware attacks can disrupt operations, compromise data and possibly result in massive financial loss. But there are ways you can protect yourself against this sort of attack and significantly reduce the risks to your business.
What is Ransomware?
Ransomware is a type of malicious software that encrypts files or locks users out of systems. The attacker then demands a ransom, often in cryptocurrency, in exchange for restored access. Although, even if the ransom is paid, there is no guarantee that the files or data will be recovered, which is why prevention is critical.
There are two main types of ransomware:
- Encrypting Ransomware: Encrypts files on a device or network, making them inaccessible without a decryption key.
- Locker Ransomware: Locks the user out of their system entirely, displaying a ransom demand on screen.
Ransomware can find its way onto your machines through the likes of phishing emails, malicious attachments, compromised websites or outdated software vulnerabilities.
Why it’s a Serious Threat
- Financial Losses:
Ransom demands can range from hundreds to millions of pounds, as well as lost revenue from locked or encrypted files. - Downtime:
Recovery of lost data can take days or even weeks, sometimes leaving you and your team completely unable to work. - Data Breaches:
Sensitive data may be stolen or leaked, damaging your reputation and potentially leading to regulatory fines. - Unreliable Recovery:
Paying the ransom doesn’t guarantee your files will be released, and paying could also make you a target for future attacks.
How to Defend Against Ransomware
Ransomware defence isn’t a one-size-fits-all process, but here are some of the essential steps every business should take:
- Regular backups
Performing regular backups to secure all critical data means that in the event of a security breach, you have another copy of your data elsewhere. Backups should be stored off-site, and/or in the cloud, and should not be connected to your main network. The process of restoring data from backups should be tested regularly. - Employee training:
Keeping staff up to date on training around cybersecurity, phishing emails, and safe internet use is key to preventing attacks. Your team will always be your first line of defence. - Patch and update systems
Keeping operating systems, applications and software up to date will prevent attackers from being able to exploit known vulnerabilities to gain access to your systems. Enabling automatic updates on all machines will help keep your software secure. - Endpoint protection
Using next-generation antivirus software and endpoint detection and response (EDR) tools can help to detect and stop suspicious behaviour before it causes any damage or interruptions to your business. - Access controls
Only allow access based on roles and responsibilities of the user and use multi-factor authentication (MFA) to add another layer of security to accounts. This means that in the event of a security breach, the attacker is unlikely to be able to gain access to the accounts/data. - Email Security
Using advanced mail filtering and spam blockers can reduce the amount of spam email that reaches your inboxes. This reduces the risk of someone introducing malicious content into your network and keeps security tight. - Incident response plan
Having a documented and tested incident response plan in place means your team can act efficiently in the event of an attack. Knowing your role in the plan means that the plan can be executed quickly, and the damage can be reduced.
Final thoughts
Your IT support company can support you in ensuring all the above steps are followed effectively, assist in monitoring your systems and preventing, or undoing damage caused from cyber-attacks. If you’re worried about your cyber security, or think you need a review, contact your IT support company for advice.
