Five ways to protect your business from ransomware

written by Michael Anderson posted on October 9, 2018

In 2017, ransomware attacks rose an astounding 250 per cent, according to AO Kaspersky Lab (2017): IT Threat Evolution Q1 2017.

Ransomware is a type of malicious software that encrypts critical data on computers or mobile devices and blocks the owner from accessing files. Ransomware requires the user pay a ransom (hence the name – Ransomware) to the attacker in order to regain access to files.

On average, small businesses lose over $100,000 per ransomware incident as a result of downtime, according to CNN (2017), Why Ransomware Cost Small Businesses Big Money.

Here is a list of some recent attacks and a worldwide cost estimate:

1. CryptoWall (2014): $325 million
2. CryptoLocker (2013 to 2014): $30 million
3. Petya/NotPetya (2016 to 2017): $1.2 billion
4. WannaCry (2017): $4 billion

How can you combat ransomware in your business? Multi-layered security is a must! Here are some examples of multi-layered security:

1. Next-Generation Firewall: This is perimeter defense against a potential attack. Next-Gen Firewalls are designed to block unauthorized access to your computer system or network, giving you granular control over inbound and outbound traffic.
2. Endpoint Protection: More than your traditional signature or hash-based antivirus, modern endpoint protection technologies provide behaviour-based protections, sandboxing, and forensic analysis to help combat modern threats.
3. Privileged Access Management: With cloud computing and SaaS services management on the rise, privileged access management is critical. Whether it’s a simple password vaulting solution or full-blown identity management with Privileged Access Management (PAM), it’s essential you protect and control your credentials.
4. File Level Backup: A good file sync and share tool is more than just a way for your business to collaborate on the go; it’s also a vital component of your organization’s security strategy. With file level backup, you can ensure that, even in the event of a sitewide disaster, your team maintains access to critical files. Ask us about 365OmniDrive – the most-secure way for a business to access and share files from anywhere.
5. Server Level Backup: Server level backup allows you to recover at the systems level, which is the last line of defense in a sitewide disaster. In the event of the worst-case scenario, it always helps to know you’ve got a fail-safe solution.

It’s simple: better backup equals safer data.

If you have questions about protecting your business from downtime, contact Michael Anderson at Michael@365tech.ca to discuss your options for total system protection, onsite and in the Cloud.