Avoid Becoming the Next Victim of a Ransomware Attack
Ransomware attacks are more common than most people think. They occur globally every 10.2 seconds and over 55% of these attacks are aimed towards small business. In 2021, the average ransomware payment was roughly $170,000, not to mention recovery costs are estimated at 10X that. Not many small businesses could survive that. Avoid becoming the next victim of a ransomware attack.
Ransomware attacks are going to rise in 2022 and hackers are also going to become more sophisticated. To avoid becoming the next victim of a ransomware attack, here are some tips you should follow:
- Understand what services you are contracting. If you outsource any or all your IT, now is a great time to sit down with your IT Provider to review exactly what happens if a breach occurs. Who is responsible for restoring your systems? Who notifies any affected customers or partners? You should also consider if there is any regulatory action or lawsuits, what happens then, who pays? Does your IT provider have a cyber insurance policy and if so, are you covered? The most important thing to accomplish at this meeting is to ensure you have all the necessary security solutions in place to protect against a ransomware attack.
- Understand your internal IT solutions. You should have a written data inventory plan. Maintain documentation of what data the company has, where it is stored, and how old it is. Without proper inventory, you cannot ensure assets are restored.
- A written security plan (WISP) that is updated at least once a year based of your written data inventory plan.
- Data breach response plan. Know who is doing what, how they are doing it, who to call or how all of it will work. Role playing different scenarios can help ensure you aren’t missing anything.
- Data retention plan. This includes what data needs kept and for how long. Old un-used data is a liability.
- Training plan. Educating your employees about data security is a key step. They need to be informed of what to be aware of and what steps they should be taking to best protect against outside threats.
- Purchase cyber insurance. Make sure the policy includes ransomware attacks.
- Review patch log. Ensure all software patches are up to date and if not, understand why not.
Following all these steps will not guarantee against a ransomware attack but arming your business with all the proper tools and preparation can only help not only protect against, but help you recover quicker if the unthinkable happens.
If you need help with accomplishing any of the above or if you are in the market for an IT Consultant, give us a call. 2W Tech is a technology service provider specializing in security solutions. Let us help ensure your business has the best security solutions and security plan in place in case of a cyberattack or ransomware attack.