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Natural disasters are a big risk for some organizations, but ransomware is something that nearly all businesses are vulnerable to without a robust cybersecurity plan in place.
City governments, enterprises and yes — small businesses — are going to be increasingly under attack in 2019 and beyond, but that attack has nothing to do with competition from overseas or local competitors. Instead, ransomware is having a massive resurgence and it’s going to be rolling through businesses at an unprecedented rate in the next few years. Recent studies show that small to mid-size businesses are the most attractive targets for hackers, with ransoms being paid from a few thousand dollars to close to a million, according to the Beazley Group. The global cost of ransomware has already topped $11.5 billion in 2019 alone, and statistics show that the attacks are accelerating both in value and quantity. With hackers prepping to renew their attacks on small businesses, are you ready for the deluge of ransomware or is your organization still vulnerable to this type of attack?
Major security vendor McAfee is raising the alarm with the statistics that they’re seeing on ransomware attacks — a resurgence from the lull that happened in 2018 and early 2019 shows these attacks coming back to businesses in a big way. In the first quarter of 2019 alone, more than 2.2 billion stolen account credentials surfaced for sale on the dark web. More than 70% of these attacks were caused by the actions (or inactions) of internal staff members, with the vast majority of the attacks beginning as a simple phishing campaign. “The impact of these threats is very real,” said Raj Samani, McAfee fellow and chief scientist. “It’s important to recognize that the numbers, highlighting increases or decreases of certain types of attacks, only tell a fraction of the story. Every infection is another business dealing with outages, or a consumer-facing major fraud”. These damages to business often come with a high cost to the business as well as to the many Americans working at each organization.
Getting your business ready to manage through this type of attack isn’t easy and it can take some time, making it vital that you start work immediately or risk losing credibility in your community, the trust of your staff and the thousands of dollars required for remediation of these attacks. Ransomware attacks can completely freeze your operations, causing your staff’s productivity to grind to a halt and making it difficult to fulfill customer orders to accept vendor shipments. Fortunately, there are standards for getting prepared that can help, including:
Each of these solutions can work together to help reduce the risk to your organization and put you in a greater state of preparedness for the inevitable attack.
When your cybersecurity strategy is in order, your business is much more prepared to weather the coming cybersecurity superstorm of ransomware attacks that experts are predicting. Contact ClearPath IT Solutions today at 309-322-2479 for your free initial consultation and to learn more about how you can prepare your business for this coming onslaught. Our security experts work with organizations of all sizes to tighten processes, provide proactive training for staff members, activate monitoring procedures and reduce the risk to your business.