Are you tired of hearing about ransomware? We are too, but unfortunately, ransomware is still a thing. Anyone can be affected by a ransomware attack. There is no industry discrimination. It does not matter what size your company is, or what role you’re in. It can easily happen to you.
What is Ransomware?
If you’re not familiar with ransomware, it’s a type of malicious software, or malware, that will block access to a computer system until a sum of money is paid. A ransomware attack can occur through phishing emails or corrupt websites. All it takes is one click of a button and your critical data is encrypted with an accompanying ransom demand. Sometimes the data you’ve lost can be recovered, but that isn’t always the case, even if you pay the ransom.
I’m sure you have seen or read about the recent ransomware attack in the Capital Region. It’s a bit frightening to think that events like this are happening every day, both globally and right in our very own backyard. When these occurrences take place, they are typically more complex than we even realize.
Who Ransomware Targets
I can’t tell you how many times we’ve heard, “It won’t happen to us,” or “It happened to our vendor, oh, and the organization down the street.” This is a major issue, but many times, technology isn’t viewed as an investment, it is thought of as a costly endeavor. If you have invested in technology, it should be visible to the public eye, just like the sign out front of your renovated conference room. Have you ever walked into a medical office and read a sign that says “HIPAA Compliant”? To me, that says, “We are an organization that invests in solutions that will allow our patients to feel safe.” Personally, I want to know that my information is being protected at all times, no matter the cost.
Cyber attackers often target small to medium-sized businesses (SMB). According to DarkReading, a new study shows the average cost of a cyberattack at an SMB is $54,650. However, it can and has happened to large corporations all over the world.
How to Protect Yourself and Your Business from Ransomware
The best way to prevent ransomware is to keep your system(s) up to date. Tim Weber, ADNET’s Director, Security Services, offers these recommendations on how to protect your environment from being compromised:
- Send sensitive information via email
- Click on the link
- Pay the ransom
The question is, how much data are you willing to lose and at what expense? According to Cybersecurity Ventures, Ransomware damage costs will rise to $11.5 billion in 2019 and a business will fall victim to a ransomware attack every 14 seconds at that time.
As these threats evolve, so should your protection against them. If you aren’t investing in the right technology solutions, you will continue to fight a losing battle. As always, ADNET is here to help. Reach out to us if you have questions or concerns and we can help guide you.