How to Avoid Ransomware Attacks in Your Business

Jun 14, 2022

Almost every day it seems like we’re being warned about a new threat to our cyber security and data. Doesn’t it?

But, that’s for good reason. Last year, ransomware attacks alone affected a massive 81% of US businesses.

And the cost of cyber-crime is estimated to hit $10.5 trillion by 2025, according to the ‘2022 Cybersecurity Almanac’.

But there are still a lot of businesses that aren’t taking this threat seriously.

And it’s not only your data that you could lose if your company falls victim to a cyber-attack. The cost of remediation or mitigation can run into tens of thousands of dollars. And with all the money businesses spend getting their data back, they could have just used it to increase their cybersecurity and prevented the data breach from happening in the first place.

With a ransomware attack, you’ll also suffer an average of 21 days downtime after a cyber-attack.

Imagine 21 days without being able to use all your business technology as normal.

That’s not to mention the loss of trust your clients have in you after a security breach.

It’s really important that your business is taking appropriate steps to keep your data safe and secure.

That most likely means a layered approach to your security. And what does “layered security” mean? This is where several solutions are used, which work together to give you an optimal level of protection for your business.

This reduces your risk of being attacked. And makes recovery way easier should you fall victim.

It’s worth pointing out that you will never be able to keep your business 100% protected from cyber-attacks. Not without totally locking down every system, to the point where it would be very difficult to do business and function day-to-day.

The key to excellent cyber security is striking the right balance between protection and usability.

There are three mistakes that are most commonly made by businesses – and they’re also some of the most dangerous mistakes to make.

Mistake 1) Not Restricting Access

Different employees will have different needs when accessing company files and applications. If you allow everyone access to everything it opens up your entire network to criminals.

You should also make sure to change access rights when someone changes roles, and revoke them when they leave.

Mistake 2) Allowing Lateral Movement

If cyber criminals gain access to a computer used by a member of your admin team, that in itself may not be a disaster.

But what if they could move from your admin system to your invoicing system… and from there to your CRM… and then into someone’s email account?

This is known as lateral movement. The criminals gain access to one system and work their way into more sensitive systems.

If they can get into the email of someone who has admin rights to other systems or even the company bank account, they can start resetting passwords and locking out other employees.

Then your business wouldn’t have any access to what it needs.

One strategy against this is called air gapping. Air gapping is when there’s no direct access from one part of your network to another. That way, no gets locked out of their own work.

Mistake 3) Not Planning and Protecting

Businesses that work closely with their IT partner to prepare and protect their business are a lot less likely to be attacked in the first place.

And will be back on their feet faster if the worst does happen. That’s because they already have good measures and back-up plans in place with their IT provider.

You should also have an up-to-date plan in place that details what to do, if an attack should happen.

This also significantly shortens the amount of time it takes to respond to an attack. Which means you’ll limit your data loss and the cost of setting things right again.

If you know you’re making one or two of these mistakes in your business, you need to act quickly. We can help.

Call us or message us at Itechra about your technical support questions, and we’ll review your current security arrangements.

Published with permission from Your Tech Updates.

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