Preventative Ransomware Measures You Can Take Today

What is Ransomware?

It’s a common misconception that cybercriminals only attack certain businesses, but the truth is each industry is at risk of a ransomware attack. Although healthcare, banking, and utilities are always a top hit, 2021 proved manufacturing was the industry experiencing the highest frequency of ransomware attacks. During a ransomware attack, malware is placed in a computer or into the computer’s files, restricting access from the organization until a ransom is paid. Sound similar to a kidnapping ransom? Transform it into the kidnapping of your mission-critical data and you have yourself a ransomware attack. How do they do it? Well, there are several tactics: extortion, rapid weaponization of vulnerabilities, and the highly profitable RaaS business models, where cybercriminals “rent” access to the ransomware. It’s expected additional methods arise as technology advances over the coming years. 

What’s the Frequency of Ransomware Attacks? 

Ransomware attacks are continuing to increase exponentially each day. In fact, ransomware damage costs across the globe are predicted to exceed a whopping $265 billion by the end of 2031. Does that number seem high? Cybersecurity Ventures magazine predicted $325 million in damages in 2015, then by 2017, that number increased 15x to $5 billion. In a short span of 7 years, this damage has colossally increased to the point that an attack happened every 11 seconds in 2021. These numbers are not here to frighten you but to educate and bring awareness to this issue. 

What Can I Do To Prevent Ransomware Attacks?

Ransomware attacks are not going anywhere. As technology evolves, cybercriminals work smarter. Although there is not a 100% fail-safe way to prevent these attacks from happening, there are measures we can implement today within our organizations. 

Your Next Five Steps:

  • Adopt multi-factor authentication across your network by making it more difficult for cybercriminals to infiltrate your system. 
  • Implement a security awareness training to educate your teams on best practices they can begin working on today (WiFi connections, passwords, emails, backups)
  • Ensure your IT professionals consistently monitor for any vulnerabilities. The internal team should find them first and have the chance to rectify the issue before someone else does! 
  • Least Privilege Access: If your employee doesn’t need access to it, it’s unnecessary to provide it. Segmenting this access doesn’t eliminate the risk, but it does lessen the severity of the attack should one employee become compromised. 
  • This should go without saying, but we see this happen more times than we like. Have backups of your data daily! It’s devastating enough to be a victim of ransomware, but to lose all of your work on top of it all is a one-two-punch no one should experience. 
165 Halsey: Rich History as a Reputable Provider

We understand the thought of ransomware is a daunting one. With over two decades of experience, 165 Halsey Street has a notable history as a colocations provider placing your trust at the top of our pillar. The same team has been working continuously to oversee the design, construction, leasing, and licensing of the entire building. We’re here to stay. We continue to keep our clients happy, their mission-critical data safe, and adapt to the needs of the industry’s current landscape. Questions? We have answers here