Cybercrime and Ransomware – How To Keep Your Business Safe
Large scale ransomware incidents make the news, but millions more go unreported.
Ransomware and cybercrime is a highly profitable business for online threat actors. For every company that elects to not pay a ransom, there are likely dozens more who’ve quietly paid the ransom which can easily measure in the millions. According to SonicWALL’s 2022 Cyber Threat Report, there were 236.1 million ransomware attacks globally between January and June of 2022.
Whether or not a business has been the victim of ransomware, protecting company data is vital to any business’s security framework. Furthermore, security is a moving target, so continual innovation and process improvements are critical.
It should come as no surprise that most ransomware attacks begin with a phishing email when a user either clicks on a link or downloads an attachment. That is the catalyst to launch malware with targets specific files and encrypts them without making its presence known. Subsequently, a ransom note is displayed on the system explaining what happened and how much the victim must pay to receive the decryption key to unlock their data. A few files might be offered for free to confirm that the keys work. Attackers then give victims a short timeframe to pay. Failure to meet demands will either result in data being leaked on the web and/or decryption keys being destroyed, thus losing value data forever.
Regardless of whether a business has been the victim of ransomware, protecting company data is vital to any businesses security framework. Furthermore, security is a moving target, so continual innovation and process improvement is key.
How To Safeguard Your Business From Ransomware
The main contributing factor to data breaches is poor security practices. Here are some things to consider when weighing a holistic security solution to protect your business.
• Avoid shared passwords.
• Utilize Multi-factor Authentication and Single Sign On (SSO).
• Implement proper, consistent employee security training.
• Verify security settings and asset life cycle management systems are in place.
• Proactively conduct incident response planning.
Businesses of all sizes are targeted and can be affected by Ransomware. Ultimately, if your company does not make security a priority, then online threat actors will. Our best advice to business owners looking to improve their security posture is to have an independent technology firm conduct a security risk assessment.
Talk To A Professional.
Bridgehead IT specializes in Incident Response, Cyber Security and Compliance, Industry-Specific Security Compliance, and On-Demand Cyber Security Expertise. It is important to take proactive steps like obtaining cyber insurance, conduct incident response planning, establish business continuity, security risk assessment, and implementing effective security awareness training.
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Top 10 states in the United States for malware by volume in 2022, with Florida taking the top spot are as follows:
• Florida [140.1M]
• California [140M]
• New York [133.5M]
• Illinois [104.7M]
• Texas [99.2M]
• Minnesota [81.4M]
• Rhode Island [68.7M]
• New Jersey [48.6M]
• South Carolina [45.5M]
• Maryland [43.3M]
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