Why Small Businesses Should Worry About Ransomware

Why Small Businesses Should Worry About Ransomware

Regardless of its size, any business can be targeted for ransomware attacks. It is wrong to think that hackers may ignore your small business and settle for an organization with more extensive data. 

Strange as it may seem, small businesses are primarily victims of cyberattacks because they believe they’re too small for an attacker to worry about. Thus, they don’t take proper IT security precautions. Unfortunately, all it takes is just a careless mistake of one employee, to become the victim of ransomware.

Phishing is a major delivery method for ransomware, and hackers send out millions of these email attacks every day. The severity of this issue led the Federal Bureau of Investigation to make a public announcement drawing attention to the negative impacts of ransomware on U.S. businesses.

What is Ransomware?

Ransomware is a form of attack in which hackers hold your data hostage after breaching your security systems. The sad news is that this can shut down your small business until you recover the data in total. There is no certainty that your data is ever recovered even after paying the ransom. 

These hackers are always clever when it comes to their mode of payment. They request to be paid in Bitcoin or any other cryptocurrency. This tactic makes it very difficult for anyone to trace it.

Ransomware Attackers Interrupt Your System

Ransomware is not entirely a virus; it only encrypts your data. Hackers cannot interrupt your system except if you give them a breeding ground. This is why they are always lurking around and waiting to feed on your ignorance. Most methods they employ are malware downloaded by an unsuspecting individual, phishing emails, and lapses in the company’s network.

As soon as the ransomware has been successfully installed in your organization’s system, it affects the infected device and seeks out more connected devices to infect. An on-screen alert appears on the screen, indicating that you can no longer access your files. At this point, you will receive a message to pay a ransom, usually between 24-48 hours.

Is Paying The Ransom A Better Deal?

As a business owner, you know that you may not be able to run the operations of your business if you do not have your data. In such a situation, you are convinced that that’s the ideal thing to do. This singular purpose will motivate you to fix the problem quickly. 

However, hackers know that there can be more than one payday. So, if you are quick to meet their demands, you’ve given them further reasons to exploit you. The sad reality is that the ransomware in possession of the cybercriminal is a strategy that can be used to shut down your business for the second time. 

In addition, there is also a possibility that the cybercriminals already have a duplicate copy of your data. Armed with such sensitive information, they will likely use it to their advantage and leverage what they can to make money.

Another thing you should consider is the possibility of getting back your data even after you’ve paid. There’s no certainty you will get back your information even after paying the ransom.

92% of organizations never get all their data back after paying a ransomware ransom. Just 29% of them recover even half their data.

You probably want to handle the situation yourself, but it may not be successful. The only logical thing you can do is to inform the appropriate authorities regardless of the instruction the hackers give you. Experts who have had similar experiences will guide you on how to handle the situation.

How Can You Prevent Ransomware From Affecting Your Business?

Small organizations are easy bait. You’re already aware that hackers are not keen on the size of an organization before they launch an attack. Therefore, you need to prevent them from laying hands on your data.

The first step to take is employee education. You must educate your employees to recognize typos in emails, strange attachments, and suspicious-looking emails. Although these may not prevent the attack entirely, they will reduce it significantly. Security Awareness Training goes a long way towards addressing this. C Solutions provides monthly Security Awareness Training and Phishing tests to all managed clients.

There is also sophisticated security software that goes beyond traditional antivirus software that can identify any form of attack and move past any antivirus without noise. It can also block it before it even starts. Of course, getting an antivirus is not enough to protect your computers, but keeping it up-to-date will improve.

It’s vital to have a full backup copy of all your data stored in a separate system, so it can be restored if you’re attacked. This way, you never have to consider paying the attacker.

C Solutions Is The Right Solution for Small Business Cybersecurity

C Solutions has a team of cybersecurity experts that protects all types of businesses, including small companies. You don’t have to wait until your data is compromised before taking the right step. 

Don’t be an easy victim of a ransomware attack. Contact us to help your business stay protected, at 407-536-8381.