High-profile cybercrimes like computer hacks, ransomware, and data theft are occurring more frequently — and at higher stakes. As the spoils of cybercrimes continue to grow, criminals are turning to ransomware to carry out their extortion activities.
During a ransomware incident, for instance, an attacker encrypts a network, preventing users from interacting with their files until they pay a ransom. The payment demands can vary among targeted organizations, but it could range from hundreds of thousands to millions of dollars.
In fact, a report by Kaspersky Lab shows that a cyber ransom can cost a company over $713,000 on average, due to the additional price of clean-up, backup systems restoration, infrastructure improvement, and brand image repair. As a result, there is a pressing need for comprehensive cybersecurity services.
Ransomware: The Most Problematic Cyberthreat
Kaspersky Lab researchers have warned against the rise of ransomware infections. The cyberthreat has already replaced advanced persistent threat (APT) network attacks as the most common network security problem. Experts have already identified more than 100 new malware families released in the wild in 2016 alone, noting a 36% increase in ransomware attacks worldwide, as well.
Despite the high costs of cyber extortion, companies lack the expertise and resources to address the growing problem effectively. A recent survey shows that only 21% of small-to-medium sized US businesses are completely ready to manage security and protect against ransomware attacks. As a result of the high-profile cyberattack from WannaCry, the US and Canada have released a joint alert against the attack.
Performing Holistic Risk Assessments across the Board
System vulnerabilities are allowing criminals to infect entire networks with ransomware. Until IT departments take a more proactive approach in addressing the cyberattack, they are putting their organizations at risk for otherwise preventable attacks. More than simply having strong data loss contingencies, however, companies should also adopt effective security policies across the board for better network protection.
Ignorance of ransomware attacks could contribute to the spread of infections, too. By educating employees on how to spot phishing attacks, businesses can implement back-ups and contingency plans. On top of that, organizations should test their back-ups for consistency and implement a streamlined restoration process to reduce the impact of a cyberthreat.
The Criteria for Choosing the Proper Cybersecurity Defense
Avoiding seriously damaging a computer system depends on the selection of proper cybersecurity defense measures against ransomware. An ideal security solution should provide the following:
Real-time protection – Malware protection should guarantee the remote monitoring of anti-virus software by sending instant alerts to affected computers.
Network and online defenses – By filtering website content and using Unified Threat Management firewalls, organizations can limit exposure to cyber threats.
Offsite backups – Multiple version backups ensure that companies can locate and store the necessary files, right when they need them.
Uptech 24/7 offers all of these advantages, as well as comprehensive IT services to prevent ransomware threats and reduce your company’s technology-related downtime to zero. Contact UpTech 24/7 to schedule a comprehensive IT review and security assessment of your company’s computer network.