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Why Your Business Should Have a Ransomware Plan

Mark Lukehart

ransomware planning

Why Your Business Should Have a Ransomware Plan

Ransomware attacks are a serious threat to any size business. For a small business, a ransomware attack can even result in the company going under. Last year, ransomware was found to be the most prevalent form of malware connected to company data breaches. Being vigilant and armed with a ransomware plan is not just another best practice, it’s necessary to company survival.

There are two types of ransomware: encryptors and lockers. Encryption ransomware takes your files hostage, converting them into a code that will require decrypting. Locker ransomware takes entire networks and devices hostage, sometimes even preventing a computer from booting up. Both types of ransomware tend to have a time limit associated with them. If the ransom is not paid within the time frame, the hackers threaten further sabotage. You do not want to find yourself pitted against criminals like these without a trusted IT partner by your side.

Systems can be infected in several ways. One common method is through phishing attacks, which are communications that pose as content from trusted sources. These attacks ask end-users to click on an attachment or a link that then invades the network. Other tactics include pop-up ads and exploiting browser vulnerabilities. There is even a new trend of demanding a ransom without actually infecting the network or device. This method is executed by hackers sending multiple emails threatening users that there is a destructive malware infection on their computer waiting to be activated unless the ransom is paid.

Don’t face the threat of ransomware attacks alone. These attacks can quickly escalate into high-cost disasters. The price of a ransomware attack goes beyond the ransom you pay. For example, in Buffalo, New York, the Erie County Medical Center reported it recently spent an estimated $10 million on a $30,000 ransom. How did this happen? Responding to the attack can lead to additional high-cost consequences like staff overtime, lost revenue, and emergency IT services. This organization never had a ransomware plan in place. 

Prevention is your best strategy. Parachute will partner with you to recognize common tactics and train your employees. Together, we can substantially decrease the likelihood that a ransomware attack will find its way onto your network or device. We will monitor your network for suspicious activity, and ensure your files are properly backed up so that you, and not the hackers, are in control – even if your system becomes. We can also help you manage and predict costs by building a ransomware plan as part of a comprehensive disaster recovery strategy.

Contact Parachute today! We partner with you to ensure your organization is ready for whatever hackers could send your way. Learn more about how Managed IT Security protects your company.