Ransomware attacks are a serious threat to any size business. For a small business, a ransomware attack can even result in the company going out of business. Last year, ransomware was found to be the most prevalent form of malware connected to company data breaches; cybersecurity provider Malwarebytes cited a staggering 90 percent increase in detected ransomware attacks. Being vigilant and armed with a ransomware plan is not just another best practice, it’s necessary to company survival.
There are two types of ransomware to look out for: encryptors and lockers. Encryption ransomware programs take your files hostage, converting them into a code that will require decrypting. Locker ransomware takes entire networks and devices hostage, sometimes even preventing a computer from booting up. Both types of ransomware tend to have a time limit associated with them. If the ransom is not paid within the time frame, the hackers threaten further sabotage. You do not want to find yourself pitted against criminals like these without a trusted IT partner by your side.
Systems can be infected in several ways. One common method is through phishing attacks, which are communications that pose as content from trusted sources like banks, governments, or popular businesses. These attacks ask users to click on an attachment or a link that then invades the network. Other tactics include pop-up ads and exploiting browser vulnerabilities. There is even a new trend of demanding a ransom without actually infecting the network or device! This method is executed by hackers sending multiple emails threatening users that there is a destructive malware infection on their computer waiting to be activated unless the ransom is paid. At Cooperative Systems, it is our job to make sure we stay on top of the common tactics so that your network is always protected.
Don’t face the threat of ransomware attacks alone. These attacks can quickly escalate into extremely high-cost disasters. The price of a ransomware attack goes beyond the ransom you pay. For example, the Erie County Medical Center reported it recently spent an estimated $10 million on a $30,000 ransom. How did this happen? Responding to the attack can lead to additional high-cost consequences like staff overtime, lost revenue, emergency IT services, and staff training to prevent another mishap. These costs may be even higher if you are caught without a plan in place and a trusted IT partner like Cooperative Systems in your corner.
Prevention is your best strategy. Our goal is to work with you to recognize common tactics and train your employees so that we can decrease the likelihood that a ransomware attack will find its way into your network or device. We will monitor your network for suspicious activity, and help you back up your files so that you, and not the hackers, are in control – even if they infect your system. We can also help you manage and predict costs by building a ransomware plan as part of a comprehensive disaster recovery strategy.