Large Corporations, governments and even small businesses all are always at high risk of attack by hackers and cybercriminals because their ultimate goal is to steal your money no matter who or what you are. Cyber attacks on businesses of all sizes are increasing continuously. In general, cyber attacks have an increase of 235%, according to a report issued by Malware Labs in 2019.
Malware, Man in the middle and phishing are some of the most common types of cyber attacks, but which could be more destructive? The answer is ransomware. Ransomware is on the rise in the cyber world and it is type malware attack that will steal your data and criminals will demand ransom to return your data back.
In the U.S. Cleveland Hopkins International Airport and Baltimore City faced ransomware attacks that drove smaller businesses thinking that large corporations and governments are the only targets of a ransomware attack and will face a real threat of attack. But according to Malwarebytes Labs, every business should prepare itself to prevent this attack.
Difference between ransomware and other cyber attacks:
Ransomware doesn’t lack confidential information or personal data to be effective, this distinct behaviour makes it different from other cyber attacks. It surfs for data in an organization that is valuable enough for the victim to pay ransom for the data to get access to the data.
Ransomware is a very effective approach of hackers to paralyze an organization by restricting their access to their information, deliver services and accept payments. All these obstacles will turn customers of an organization away.
Measures to deter ransomware:
Ransomware can cost a lot to a business so a business must prepare itself to combat not only ransomware but all cyber attacks. Several best practices businesses should implement to protect themselves from cyber attacks include:
Security software is crucial for the organization to detect and deter fraudulent activity. This software should be strong enough to verify activities and detect that can harm the organization.
If your business is online then an organization must use identity verification service. Identity verification service is an anti-fraud technology for online businesses that can verify your customer and even employees online. It is capable of detecting if a fraudulent is pretending to be someone.
Firewall & Intrusion Detection/Protection:
Installing a firewall is a crucial security measure and any business should not neglect it. It can deny and allow access to a company network or a part of the network. By restricting access with the help of firewall an organization can prevent scammers.
Web & Email Filtering:
All efforts of preventing ransomware from getting in the network become useless when an end user inadvertently opens a malicious email and click a malicious link. For end users, it is becoming increasingly complex to detect all malicious emails as phishing attempts are becoming more sophisticated.
By email safety awareness training and email filtering for employees, an organization can mitigate the risk.
Users/clients are the most valuable asset of a company. Their protection should be the priority of any organization. An organization should arrange regular awareness programmes for users to educate them about malicious links and persons.
Backup offers the best protection:
Taking backup on regular basis can secure you from ransomware. In case if you become a victim of ransomware you can use your previous backup to keep going. Usually taking backup costs you little to nothing but restoring backup could take days or weeks and it will cost you in labour and downtime to restore and recover your systems to make them fully functional.
Various types of backup, disaster and threat prevention strategies are circulating in the market and every solution is valuable according to its use. You can protect your business by implementing a solution that mitigates risks attached to your business.
Your IT team or technical department should understand and analyze business deeply to provide and implement best solution for unique problems. An IT team must identify which type of backups are beneficial for specific organizations and how to restore them more efficiently in less time in case of any critical situation.