Skip to main content
Network Security

Attackers Demand a Ransom

By December 15, 2022December 28th, 2022No Comments

Ransomware is a type of malware that encrypts a victim’s files. The attackers then demand a ransom from the victim to restore access to the files; hence the name ransomware. Cybercriminals often use ransomware to target small businesses because they may not have the resources or knowledge to effectively protect themselves. As we enter the new year, it is important for small businesses to be aware of the trend of ransomware attacks and take steps to protect themselves.

Ransomware attacks have been on the rise in recent years, with businesses of all sizes being targeted. According to the Cybersecurity and Infrastructure Security Agency (CISA), ransomware attacks on small and medium-sized businesses (SMBs) increased by 118% in 2020. The trend is expected to continue into the new year, with cybercriminals increasingly targeting SMBs because they may have less robust cybersecurity defenses.

There are several reasons why small businesses are at risk of ransomware attacks. First, small businesses may not have the same level of resources or knowledge as larger organizations to implement effective cybersecurity measures. This can make them an easier target for cybercriminals. Second, small businesses may not have a dedicated IT team or cybersecurity professional, making it more difficult to detect and respond to ransomware attacks. Finally, small businesses may store and process sensitive data, such as customer or employee information, making them an attractive target for cybercriminals looking to steal or sell this data.

So, what can small businesses do to protect themselves from ransomware attacks? Here are some steps you can take:

  1. Implement a robust cybersecurity strategy: This includes installing and regularly updating antivirus software, using firewalls, and implementing strong passwords.
  2. Regularly back up data: Regularly backing up your data can help you recover from a ransomware attack without having to pay the ransom. It is important to store your backups in a secure location, such as an external hard drive or cloud storage service.
  3. Train employees: Educate your employees about the risks of ransomware and how to identify and prevent attacks. This can include training on how to recognize phishing emails and how to handle sensitive data.
  4. Be cautious when opening emails: Be suspicious of emails from unfamiliar senders, and do not open attachments or click on links in suspicious emails.
  5. Use multi-factor authentication: Implementing multi-factor authentication can help to protect against unauthorized access to your systems.
  6. Consider purchasing cyber insurance: Cyber insurance can provide financial protection in the event of a ransomware attack or other cyber incident.

In conclusion, small businesses should be aware of the trend of ransomware attacks and take steps to protect themselves. This includes implementing a robust cybersecurity strategy, regularly backing up data, training employees, being cautious when opening emails, using multi-factor authentication, and considering purchasing cyber insurance. By taking these steps, small businesses can reduce the risk of falling victim to a ransomware attack and protect their sensitive data and assets.