Ransomware Prevention and Remediation for Businesses

Ransomware is becoming a bigger threat to businesses with each passing year with an increase that has peaked at 68.5% for 2021. Ransomware has become more popular in the past years mostly because of two reasons. Cryptocurrency provides a hassle-free and untraceable way to receive funds and ransomware has been tested and proven to work, so more and more hackers are tapping into it. By the first half of 2021, 304.7 million ransomware attacks had already been reported. 

The numbers and statistics are cause for alarm, so how can you protect your business from ransomware? Let’s discuss steps that you can implement to protect your business from ransomware.

What Is Ransomware?

Ransomware is an ever-evolving form of cyber attack where malware encrypts and blocks access to important data. If any level of your business’ tech stack is attacked by ransomware, it becomes inaccessible. Businesses are forced to pay a ransom to hackers to regain access to important information. The ransom can be in the form of bitcoin cryptocurrency or a wire transfer. Hackers usually threaten to expose or sell sensitive data to the highest bidder to force the victims to pay up – and the more sensitive the information, the better. In 2020, the money paid by companies to hackers increased by 300%.

Oftentimes, ransomware attacks usually target high-profile businesses. But in some cases, hackers specifically target small businesses because most have very lax cybersecurity measures in place. This is because most small businesses operate under the illusion that they are not a worthy target for hackers, which makes them very easy targets. Only 2% of small businesses view cyberattacks as a viable threat.

How To Protect Your Business From Ransomware 

Discussing a cybersecurity strategy for your business will put you ten steps ahead and minimize the risk of cyberattacks. Designing a plan or strategy to prevent ransomware attacks will block any potential threats before any damage is done. IT specialists can help you to design a foolproof and efficient strategy to protect your company. Contact Silverstone Technology group for the best-customized ransomware protection solution.

Now, let’s discuss a few tips you can use to effectively protect your business from ransomware.

Implement A Smart Data Backup Plan

One of the best ways to reduce the impact of ransomware is to implement a smart data backup plan. Ransomware works by restricting access to important data, so if all your data is backed up, your business will still be able to operate while mitigating the crisis. There may also be no need to cough up the money. Use both physical storage options and cloud storage if possible for extra security. 

Acronis offers cloud backup and cloud storage solutions for your company. Acronis also offers fast disaster recovery. Your system can be up and running again in a matter of minutes. A customizable data backup solution makes it possible for you to backup your data as often as you need to without compromising operations. 

Train Your Employees And Practice Good Cyber Hygiene

Employees form a direct line to your business and all your sensitive data. Training your employees on good cyber hygiene is one of the most important ways to prevent ransomware. 

Employees should avoid clicking on links and downloading files from unknown sources. Corrupted files contain malware that is designed to infect your device and weaken security. The best way to check if a link is potentially harmful or not is to compare the URL in the link with the one that pops up in a small window when you hover your mouse above the link. If the two URLs are different, clicking the link may be potentially harmful. The following tips will help to keep your business secure:

• Avoid visiting unknown websites.
• Do not plug in unknown external storage devices.
• Do not download any files from unknown sources.

Utilize Security Software

There are software security tools that are designed for the sole purpose of protecting your company. Make use of Multi-factor authentication. Using MFA will limit the chances of unauthorized logins and potential ransomware attacks. Multi-factor authentication works by requesting that users provide more than one type of verification to be able to log in to a system. 

Make Use Of A Whitelisting Program

Whitelisting programs form a barrier that prevents unauthorized programs from executing. As ransomware becomes more popular, whitelisting programs are proving to be more and more useful and versatile. Whitelisting as a cybersecurity strategy may sound slightly tedious and frustrating for end-users but it forms one of the best defenses against ransomware. IT staff compile a list of approved programs or applications that a computer can access and any unauthorized program or app is blocked.

Whitelisting is most effective on centrally managed hosts that are linked to other computers and on computers that are at a higher risk of being exposed to malicious software. 

Scan All Incoming And Outgoing Mail

About 90% of cyberattacks on businesses originate from malicious emails. Built-in security falls short when warding off cyberattacks and this is where email scanning software comes in handy. 

Email scanning software thoroughly scans all incoming and outgoing mail for viruses, malware, and spam. Perception Point provides a cutting-edge email security solution that prevents phishing, malware, impersonation, and ransomware. Email scanning detects and blocks all malicious files and URLs before any complications arise. 

Make Sure All Software And Devices Are Updated

Ensure that all antivirus and anti-malware software is always updated to the latest version. Use excellent antivirus software that has military-grade encryption to secure your data and keep hackers out. 

You can set your anti-malware and anti-virus to update automatically whenever a new version is available. This will help to plug any potential vulnerabilities. Out-of-date software can become a weak point in your security that hackers can use to deploy ransomware. 

Control Usage Of Privileged Accounts 

Monitoring, auditing, and using Multi-factor authentication can prevent access to high-level accounts that provide unlimited access to sensitive business information. Privileged accounts are a direct doorway to client information and other sensitive information that hackers would want to target. Access to privileged accounts should only be restricted to a few employees on a need-to-know basis. 

Protect Your Business From Ransomware 

Ransomware is constantly upgrading and evolving, so the best way to stay ahead is to keep up to date on all the best practices you can use to prevent ransomware attacks. Get in contact with IT professionals to create a ransomware prevention solution that will secure your business.