Most businesses lack resources to prevent or recover from a ransomware attack. With an increase in attacks in the business sector, companies need to make sure they are protected.
For most of us, infecting a network with ransomware is a crime. For cybercriminals, it’s a business. Like any business owner, cybercriminals want a return on their investment (ROI). That’s why ransomware attacks against enterprises have grown by over 300%, while consumer attacks have declined. Although the number of ransomware attempts has declined significantly, the monetary loss has not.
Based on the probability of payout, cybercriminals are interested in Canadian enterprises. In 2018, the percentage of companies that paid a ransom ranged from 75% to 3%, depending on the country.
If a cybercriminal is looking for the best ROI, they will target Canadian companies. So, how can Canadian businesses in eastern Ontario prevent ransomware attacks?
Ransomware has been around since 1991 when the virus was first distributed on floppy disks. Today, ransomware is far more complicated not only in terms of the virus but also in the way it is distributed.
What is Ransomware?
Ransomware makes up a large percentage of Malware attacks, which are computer viruses that harm computers and stored data. With ransomware, the virus makes its way through system files, encrypting each file as it goes. Eventually, the data is inaccessible. That’s when a message displays telling you to send money to get the keys to unlock or decrypt your files.
How is Ransomware Distributed?
The virus is usually delivered as part of phishing. The threat actor sends an email with an attachment or link. When the attachment is opened or the link selected, the ransomware virus is activated. The virus works its way through the network or computer until it has compromised the system.
In the last few years, ransomware has become more sophisticated, and the consequences of an attack more costly. Today’s ransomware can:
With these added threats, an attacker could disable an organization for weeks, possibly months.
If you find ransomware in your system, prevention is too late. However, there are things you can do to help with recovery.
Create Offsite Backups
Network-connected backups are no longer safe. The newer version of ransomware destroys the system’s backups before attacking the live system. If your backups are not on the network, they can’t be compromised.
Install Virus Protection
Find a robust virus protection software that is continuously being updated to address the latest viruses. Most protection software will also let you know if you need to apply system updates, but other applications will need to be updated manually.
Employees are the first line of defense against cyberattacks. Employees must know that ransomware can now be embedded in PDfs and Word documents. Ongoing training and constant reminders help keep security in mind.
It is rare for an organization to have the resources to prevent or recover from a ransomware attack. That’s why it is essential to partner with a company such as Fuelled Network for protection against cyber-attacks, including ransomware. Why not contact us to discuss your cybersecurity needs. We provide Ransomware Prevention in Kanata ON and throughout eastern Ontario.