Sound IT Solutions Provide Ransomware Protection for Businesses

Discover the startling statistics on cyberattacks and ransomware afflicting U.S. businesses and learn steps to protect your company from being victimized.

Cybersecurity is at the forefront of many executives’ minds today, driven by regulatory and financial fears.

The costs of not paying attention to cybersecurity are high. Consider that the average data breach costs U.S, companies nearly $4 million to identify, repair, remediate and communicate about intrusions.

Small businesses are particularly susceptible, with phishing attacks and other assaults targeting small businesses at an alarming rate. A recent survey by the U.S. Small Business Administration showed that 88 percent of small business owners felt their business was vulnerable to attack.

The consequences are not just financial. New legislation at the state level and internationally, including the European Union’s General Data Protection Regulation (GDPR), place major restrictions on the collection, use and sale of consumer data.

What Happens During a Cyberattack?

Most cyberattacks occur when a hacker gains access to company data, computers or systems. Often they get access by sending emails with attachments or links that embed malicious software that can be accessed remotely.

Once hackers have access to systems, they can steal data or block you and your employees from accessing websites and information until a ransom is paid, usually in cryptocurrency. These ransomware attacks can cripple a business, municipality or nonprofit.

According to the FBI’s 2018 Internet Crime Report, the agency received 1,493 reports of ransomware attacks. The attacks cost victims $3.6 million, not including the cost of lost business, equipment, wages or third-party services used to remediate the issue. The FBI notes that this means the $3.6 million is “an artificially low ransomware loss rate.”

What Can I Do to Protect My Business from Cyberattacks?

There are proactive steps your business can take right now to protect itself. With data breach and ransomware protection in place, you can keep your business far more secure. Here are a few tips:

  • Create Sound Security Policies. Your business needs policies developed that keep your devices, users and systems protected. Policies need to consider regulatory obligations, industry best practices and detail key structural issues, including:
    • When and how frequently system and software updates are done
    • What data needs to be protected
    • Who has access to sensitive data
    • Who administers your data
    • How frequently passwords are changed
    • How complex authentication protocols need to be
    • Mobile-device policies
  • Train Employees. Staff users are usually the most likely to allow a cyberattack, usually unwittingly. That’s why employee training is necessary and critical. Employees should be trained on the policies and procedures related to data. It’s also important that employees understand why these policies are in place and the consequences of noncompliance. Specific training should address how phishing schemes work and what to look for.
  • Use Automation. Automated solutions allow for anti-phishing, anti-malware and anti-spam software programs to be updated as new threats and resolutions are identified. Automated updating ensures that devices are protected without delay.
  • Back It Up. In the event of a cybersecurity incident such as a ransomware attack, you want to be able to regain operational control quickly with minimal data loss. That’s why having a regularly scheduled backup plan is essential.

Who Can Help Us With Cybersecurity Solutions?

Techsperts helps businesses throughout New York and New Jersey stay protected. Our security solutions include comprehensive security assessments and solutions that include firewalls, encryption, cloud services, two-factor authentication, automated anti-spam and anti-phishing software, content filters and monitoring. Learn more about how Techsperts can keep your business protected by scheduling an initial free consultation.