How Ransomware is Crippling Small Business

How Secure Is Your Business?

Malware is the computer code that is created for some malicious intent. Malware consist of Worms, viruses, and Trojans. The whole purpose of introducing a malware is to steal data. Ransomware uses the encryption technology to attack and hold data hostage. Recently, an increased rate of Ransomware attacks have made it difficult for small and medium sized businesses to stay ahead of attacks. When a company is down due to a Ransomware attack, the attacker will request a hefty ransom amount which may stand somewhere in the line of hundreds to thousands of dollars. Not complying with their terms and conditions might mean jeopardizing the company’s data.

Attacks Your Confidential Data

Ransomware is a major concern to all businesses since it gets an access to your confidential data and encrypts it, which prevents the victim from accessing it. The solitary escape is to unlock the data, which can only be done with a decryption key that only the hacker has access. Victims are asked to pay a ransom for the release in exchange for the decryption key. It is common for small businesses or budding startups to neglect the severity of the situation, however, facts suggest that hackers attack the ones with minor security vulnerability first.

Upheaval in the Business Operations

The operational impact that Ransomware makes is dangerous for any business of any size. For instance, consider a vital process or a service that your business serves. Imagine it comes to a sudden stand still. Ransomware, holds the prowess to shut down sub-divisions, divisions, or in some cases, an entire plant. It can also freeze up the whole manufacturing control systems. The losses that this can cause, if it affects major facilities like banks, hospitals, etc. can be really damaging.

Restoring the whole Network can be challenging

Restoring the data can throw the whole purpose of the business under the bus. A disciplined backup and recovery strategy might also not work its magic in some cases. To recover your system you might require a backup, but this will solely depend on the intensity and scale of data loss suffered. You might want to assess the whole situation, see how far and wide it has spread, and how fast would you be able to get back up from this situation and start to a normal stage. However, in some cases the data encryption level might shoot up to a different level which would make the situation particularly more vulnerable.

Question Mark on the credibility of the business

A cyberattack can definitely raise a question on your measures to digital security. Your clients might feel their trust is compromised. Simply put, the client would start to question the overall credibility of your firm. This would mean, they would not find it comfortable to share their personal details with your company. Hence, it is important to have a combat mechanism at all times to avoid any kind of cyberattack.

Here are some important measures that you might want to consider to ensure your business is not affected or at the least protected in case of cyberattack.

  • Ensure that you have you have the security software of your business up to date. It means get in touch with a reliable and trusted IT company that can handle the task of managing your company’s data with specialized tools and procedures. When you approach a reputed IT consultancy firm, request that they extend the expertise of their trained resources to handle the cybersecurity task for you.
  • Online backup services are available. They can be of good help with managing the files, backing them up from various devices. Cloud-based systems are protected but to be sure you might want to consult your IT partner.
  • Hackers would notoriously attack older file systems first, hence, it would be great to run the latest versions of all the operating systems.

Read Article : Top 3 Ransomware Plays that Attack Your Blindside

No matter the size of your business, your chances of becoming a victim to a Ransomware attack don’t get eliminated. If a breach occurs it might cost your business downtime, that will heavily affect your business operations, and even cause you permanent reputation damage. Therefore, it’s essential that you deploy an expert who can devise a strategy to secure your business from any ransomware attack.

As a Managed Security Service Provider, Single Point of Contact stays on top of everything related to cyber security and data protection. We take swift and thorough action to ensure your business is protected around the clock. We guarantee to remediate any security threats when they occur around the clock. Constant monitoring of any network is a requirement nowadays, and we are pleased to provide the most comprehensive security solution to our clients. To learn more about how we can help protect your business from cyber-attacks, contact us today.

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