Looking at the frequency and scope of ransomware attacks, and the number of small and midsize businesses falling victim, we remain surprised at how many SMBs are not yet taking steps to prevent the problem. If you don’t work to prevent ransomware attacks it can result in devastating financial and reputational consequences, making prevention a critical priority for businesses of all sizes. In this article, we’ll explore what ransomware is, how it works, and most importantly, what steps you can take to protect your organization against this threat.
What Is Ransomware and How Can it Affect Your Business?
Ransomware is a type of malicious software designed to encrypt files or lock computer systems, effectively holding them hostage until a ransom is paid. It infiltrates a system through various means, such as phishing emails, malicious downloads, or exploiting software vulnerabilities. Once the ransomware infects a device or network, it quickly encrypts files, rendering them inaccessible to the owner.
A ransomware attack with no data loss can still cost your business $1,500 per employee, or more, in recovery costs and lost productivity. Organizations all throughout the world detected 493.33 million ransomware assaults in 2022, emphasizing the importance of good ransomware prevention techniques.
Recently on our 3T@3 Webcast we focused on Ransomware, and following that we also published a Business Guide to Ransomware. Both highlighted the need for the CPR methods (communicate, prevention, recover).
3 Proactive Methods to Prevent Ransomware and Protect Your Data
Educate and train employees on how not to fall victim; provide clear policies and procedures that reinforce positive behaviors.
Deploy technologies in support of your policies and procedures with multi-layered protection against malware and, specifically, ransomware.
No prevention is perfect; have backup and continuity systems in place that enable a quick return to normal operations.
While most of the SMBs and schools we speak with understand and have some of the ransomware prevention and recovery solutions in place, the up-front education is missing. These businesses and schools remain vulnerable targets.
Earlier this year, we announced a strategic partnership with Privacy Ref, offering affordable Privacy Solutions for SMBs, including a subscription-based Privacy Education Program. For a small base fee and $10 per employee per year, we help ensure your team understands the risks, the importance of awareness, and how to avoid becoming a victim.
For a fraction of the cost of an attack, you can empower your team to avoid and prevent it from happening.
Contact us for more information.