Ransomware Recovery Services In Boston & New England
KEY POINTS FROM THE ARTICLE:
- According to the State of Ransomware 2022 report, the severity and spread of ransomware attacks increased in 2021, with 67% of the victims being mid-sized businesses.
- Paying the ransom is not a solution to ransomware attacks. The average ransom payments increased by five times in 2021, with 46% of the attacked businesses paying the ransom, while 26% paying even after recovering their data.
- Ways of preventing ransomware attacks are training employees, patching and updating software, using cloud backups, and data filtering.
Technology is evolving, and business growth depends on digital data and software. As the world continues to embrace remote working and distance learning, cyberthreats like ransomware continue to be rampant due to the present security gaps.
Proper protection systems are important in preventing business downtime and serious data breach. Every type of organization, regardless of size, needs proper safety measures against the risks and consequences of ransomware.
Protecting your business with effective ransomware recovery solutions ensures its survival. Spade Technology can help you prevent a ransomware attack and alleviate the possible severe effects of a successful attack.
What Is Ransomware Protection?
Ransomware protection refers to the measures businesses can take to curb the risks associated with data recovery, cloud backup, and cyber security. Ransomware threats occur when cybercriminals can encrypt and hold your data in exchange for ransom. The only two choices you’ll have now would be to pay the ransom or lose your data completely. The best solution for dealing with the growing risks of ransomware attacks is having comprehensive data protection and recovery plan.
Why Is Ransomware Protection Important?
Ransomware attacks continue to rise, as 2021 hit a record of 37% in the third quarter of the year compared to 2020s at 33%. The attacks are expected to rise to one attack every two seconds by 2034, compared to 2021’s one attack every 11 seconds. Businesses are more likely to become victims without proper protection measures in an age where it’s important to have accessible and readily available data. Recovery systems protect businesses against unavoidable attacks and quick safety measures following unwelcome interruptions.
How Does Ransomware Affect Your Business?
A ransomware attack is expensive to your business, causing derail, losses, or even shut down. Here are some of the ways ransomware attack is risky to your business.
According to Statista, in the third quarter of 2021, businesses attacked by ransomware experienced an average downtime of 22 days, up from 15 days experienced in the first quarter of 2020. Ransomware attacks can disrupt the production of even big, well-funded businesses. For instance, the global meat-producing company JBS was attacked in mid-2021. The attack disrupted its operation in Australia, Canadian, and the U.S. leading to two days closure of its stations in these countries. The organization could only resume normal operations by paying a ransom of $11 million in Bitcoin, equivalent to a downtime of three weeks.
Damage to Brand Reputation
According to Forbes Insights, 46% of businesses incurred reputational and brand image damage due to cybercrime. Additionally, third-party privacy violations through failures in the IT system resulted in 19% of companies facing credibility and image damage.
Ransomware attackers identify additional weaknesses of an organization’s IT system immediately after the attack. They will then use these weaknesses for future attacks to demand even higher ransom payments.
Sensitive Data Exposure
Ransomware attacks use data exfiltration to pressure businesses into paying ransom by threatening to post their sensitive material to the dark web if the ransom isn’t paid.
Take Quanta Computer Inc., a company that supplies Apple products. It was attacked by REvile, a ransomware group, and demanded $50 million in exchange for not posting the blueprints of Apple’s stolen products.
Never Pay the Ransom
Paying the ransom is not a security that you will receive the secret key necessary to retrieve your data. Attackers assume that if you pay once, you will probably pay again if you encounter a similar predicament. Therefore, succumbing to threats could mark you as a prospective prey for cyberattacks. A study by Cyberreason showed that 80% of the victims experienced a second attack, while 40% paid the ransom for the second time, 10% paid for the third time, and one percent paid again for the fourth time. The additional attacks happen fast and typically require a higher ransom value. 68% of the victims reported that the second attack occurred within the same month and was accompanied by higher demands.
Building Your Ransomware Data Recovery Strategy in Boston
The first step to protecting your devices from a ransomware attack is to prevent its installation. The second step is to foresee how malware can access your network and which data will most likely be attacked. This assists in concentrating your security systems on the most important data and ensuring they are backed up in advance. Data backup is essential for recovery since it allows you to restore files to their original condition after an attack. Here are some of the ways you can create a successful ransomware data recovery plan
Train users to detect ransomware
You stand a higher chance of reducing the risk of an attack when your employees are trained on the causes and dangers of ransomware attacks. A fraudulent email Is normally the first step in a ransomware attack. Employees can also be taught to recognize other cyber threats such as social engineering and phishing. Employees are less likely to open attachments from unknown sources with adequate knowledge to identify suspicious messages.
In other cases, ransomware attackers may specifically target employees with higher privileges. This kind of attack is known as social engineering. Hackers assume that these employees have access to, or possess the business’s most important data. As a result, the demands are likely to be higher in case of an attack.
Keep software patched and updated
Ensure you have the most recent patch installed on your operating systems, anti-malware programs, firmware, and third-party software. Software upgrades ensure your anti-malware program can detect even the most recent ransomware.
Always have a backup plan
Restoring data from a backup is the best method of ransomware recovery. With Backups, you can evade paying the ransom by recovering data without the encrypted files. Knowing this, ransomware attackers create malware that searches the network for data backups. Keeping a copy of your backups elsewhere is an efficient technique to prevent malware from attacking your backup files. Cloud backups are an effective way to protect your data using an offsite solution. However, you still need to remove the malware from the network after recovering from a backup.
Ransomware attacks continue to rise, and you can never be certain when they will affect your business. Training your employees and installing proper protection solutions is the first solution to staying safe. Reach out to us today to learn more about how we can assist with your ransomware recovery in Boston and New England.