Will Ransomware Affect Your Business?

There are many dangers out there when it comes to cyber-attacks. With so many small businesses and start-ups made more vulnerable due to limited resources, it’s even more critical to protect your company from harm’s way.

Ransomware is a common form of threatening malware that can bring damage to your company’s security. What is ransomware and how can you protect your small business?

What is ransomware?

Ransomware is a type of malware that comes from crypto virology. Crypto virology is a field of study that looks at how to use cryptography to design this powerful and malicious software.

The purpose of this malware is that it will usually threaten to publish personal data pertaining to the victim or it will block access to it unless a ransom is paid. A lot of small businesses fall victim to this malware and there is often very little that can be done when the proper precautions have not been taken.

As a result, these small businesses who cannot afford the resources to pay the culprits end up losing their data. For some, it can even be the end of the business itself. Many cyber-attacks can often be too much to come back from.

What causes ransomware?

Ransomware can be delivered in several ways. One of the most frequent ransomware attacks is through phishing spam. These are emails sent to the victim to be misleading, whether it’s seemingly from someone they know to random emails that might influence them to click on attachments or links.

These links or attachments are the malware and once downloaded to the computer, they can take over the victim’s computer, controlling all data and information on there. These attacks are becoming more frequent because they can become a large financial opportunity if the ransom is paid.

Many of us who access the online world believe that we will never fall victim to these attacks but it is certainly something that can happen to anyone. With that being said, it is worth knowing exactly what you can do to help prevent this from happening to your business.

What to do if you get infected by ransomware

If you’ve found an employee has been infected by ransomware, it’s important not to panic. The first thing you’ll want to do is isolate that computer away from everything else.  From there, you can run the relevant diagnostics to see whether other computers on the server have been affected.

It’s important that to help prevent this from happening or if it does happen, from getting any worse, by having an IT consultant or MSP provider. This person or persons in place can help put in the right security and monitoring services to keep any malware of any sort from getting to your servers.

A lot of companies will end up outsourcing an IT provider to help with this because it’s more affordable than having to hire it in-house.

Tips to help protect your company security

Your company’s security should be a prominent focus when it comes to protecting yourself. There are many ways to help protect it, yet so many businesses fail to do so out of laziness or naivety in thinking they’ll be fine. Here are some helpful tips to protect your company’s security.

Use the cloud to store data

The cloud is a place that is unlimited in how much you store within it. There are many cloud-based software and tools available, such as Microsoft SharePoint as a prime example. These cloud-based systems are a lot more secure than your average, physical server.

There are many benefits to moving over to the cloud, especially as a small business. With cloud services, you don’t need to worry about upgrading the space too often or paying the extensive costs of running a physical server in-house.

Implement Regular Offsite Backups

Backing up your data is crucial to having an extra layer of assurance when it comes to cyber-attacks. The amount and frequency of backups is something that should be discussed with your IT consultant. Having a clean backup offsite could be the difference between paying a ransomware bounty or just cleaning your environment and restoring a backup.

Implement MFA/2FA Authentication

This method is widely used and helps to keep your account secure by requiring a second form of authentication at login. These forms of authentication might be something as simple as a text message or as complex as another app on your mobile phone asking you to verify your login.

Implement DNS Filtering

This type of service helps filtering out bad web addresses when users try to navigate to them. Think of it like a safeguard that attempts to keep users from navigating to malicious websites.

Use EDR Instead of Traditional Anti-Virus

As referenced in a previous posting EDR is considered the gold standard of security. It uses machine learning to apply intelligence to its threat detection.

Change passwords regularly

Passwords are part and parcel of keeping your cyber security secure. If you create easy passwords or repeat them and you are likely to find your accounts to be more easily compromised as a result. A good way of protecting your files and online accounts is by encrypting those files where possible, adding password locks, and changing the passwords frequently.

A lot of companies now are turning their focus to password software which automatically saves and updates passwords when it’s needed. All you would need is to remember one password and that is to enter the software itself.

By changing passwords regularly and setting strong passwords, you reduce the risk of many types of cyber-attacks, both ransomware and attempted access to your accounts.

Have a security policy in place

A security policy is a good thing to roll out to your employees so that they know exactly what is in place and what not to do to leave the business vulnerable to attack. If they’re found to have breached it, then this might result in certain consequences depending on the level of impact it has on the business. For some, it might result in letting the employee go.

The contents of a security policy will often relate to the company in question. Be sure to include all the relevant information that would be needed to protect your business from any further harm. An information technology company can help your write and implement this policy.

Give your employees the necessary training

One of the biggest dangers to your business is your own employees when it comes to security. Human error can prove problematic if your employees were to fall victim to phishing spam. It is always good to give your staff any of the necessary training that they need to spot potential attacks.

There are lots of training facilities and individuals who can provide regular training sessions where needed. Do not just assume that everyone in your company has the understanding they need to keep themselves safe from cyber-attacks. That is likely not the case, especially as the methods of these attackers are often changing and becoming more advanced.