Five ways to protect your business from ransomware

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.