Preparing Your Business for a Ransomware Attack

Ransomware is a type of malicious software that infiltrates a computer or network and encrypts files, limiting or restricting  access to critical data until a ransom is paid. One only needs to read or watch the news to realize that the frequency of these types of attacks is not only increasing, but so are the sums paid out to these hackers. There have been several high-profile attacks, including one in which Colonial Pipeline paid $4.4 million in crypto currency in 2021 and the University of California, San Francisco paid out $1.4 million in 2020.

Unfortunately, many small businesses believe because they are small, hackers will simply bypass them – this is not the case. Since 2016, it is estimated that over 4,000 ransomware attacks have occurred in the United States every day. Consider yourself fortunate if you haven’t been attacked yet.

Email phishing campaigns are one of the most common methods used by hackers to carry out a ransomware attack. According to ABC News, malicious emails are up 600% this year as a result of covid.  All it takes is for an employee to click on a link in an email or open a document for the malware to begin and spread on their computer.

Ransomware Resources

How prepared is your company? The Cybersecurity and Infrastructure Security Agency (CISA), recently released a new module in its Cyber Security Evaluation Tool, the Ransomware Readiness Assessment. This tool evaluates a company’s readiness to defend against and recover from a ransomware attack and makes suggestions for improvement.

Here are some additional resources to assist you in better protecting yourself from cyber threats:

• “How to Protect Your Networks from Ransomware”, U.S. Government interagency
• Ransomware Guidance and Resources, The Cybersecurity and Infrastructure Security Agency

Preparing for and defending against ransomware or other cyberattacks is more important than ever. However, many small businesses lack the resources or don’t know where to begin when it comes to developing and sustaining a program that works for them. There are steps a company and its employees can take to mitigate this risk. For more cyber considerations, find a team member near you at INSURICA.com/our-team today.