Here’s Why You Should Be Concerned About Ransomware

Much of our day-to-day business relies on computers. We use devices and networks to communicate, work, and store data. With the amount of crucial information stored on our servers, it is no wonder that there are criminals out there who look for ways to access it. Your vulnerabilities can end up costing your business more than you think.

Cybersecurity is crucial to safely running a business and having ABS on your side could mean the difference between recovering quickly with little loss and huge losses of time and money. Don’t just take our word for it, though.

Earlier this year, ABS helped one of our clients recover from a cyberattack. In April, we received the call that one of our clients was experiencing IT issues. Their systems weren’t working and they were unable to run their business. As it turned out, they had fallen prey to a ransomware attack.

What is Ransomware?

Ransomware is a type of malware that gains access to your computer network by masquerading as something harmless, also known as a Trojan. This allows the hackers to slowly take over your network. Ransomware attacks generally don’t focus on any one type of business, either. An attack can happen to anyone with vulnerabilities in their network.

Once the hackers have access to everything in your network, they lock you out and sometimes may even encrypt your files, making it nearly impossible to recover on your own. However, as the name would suggest, they will give you access again, or decrypt your files, if you pay the “ransom.” This is what makes it different, and more malicious, than other kinds of viruses.

Having multiple layers of security in place, including cybersecurity training for your employees, protects your business from the vulnerabilities the hackers are looking for and can save you a lot of time, money, and stress. Having someone like ABS on your side also gives you additional relief knowing that if something does happen, we can help you take care of it.

The Case Study

This breach of our client’s security, as well as that of their sister company in another state, is truly a parable for the importance of a comprehensive cybersecurity plan.

After receiving the call and discovering the ransomware, our ABS team was able to jump into action. Within 48 hours, we were able to remove the threat and regain control of the situation. That, however, is when we learned of the additional ransomware attack on our client’s sister company.

We did what would take some people months to do in a matter of days. After a week, our client was back up and running and they faced no loss from the attack. Their sister company, on the other hand, had minimal cybersecurity in place at the time and had to pay the ransom to regain control of their network

Recovery is just the beginning, though. The next step is to better prepare for the future.

To learn more about this attack and how ABS was able to quickly resolve it, here is our ransomware case study.

The Importance of Cybersecurity

One of the scary aspects of cyberattacks is that they can happen to anyone at any time. Not to mention, that technology, and therefore cybercrime, is always changing. You aren’t safe from one unless you have the proper security measures in place and are continuously keeping up with it.

Unfortunately, no cybersecurity measure will be 100% effective. There will always be vulnerabilities, which is why a layered security plan is so critical. Layered security is what it sounds like: multiple forms of security protecting your business. With multiple layers of protection, your business is less likely to be breached.

There is a large array of security measures you can put in place to better protect yourself from a cybercrime. For example, we recommend creating a firewall, making sure you are running the most up-to-date systems, and running antivirus and antimalware software.

Additionally, training employees to better protect themself is also a key to keeping your business safe. Use passwords and multi-factor authentication for important work, and make sure your employees know to look out for phishing.

It is also important to note that, while layered security is always important, it is doubly important with more and more employees working from home as a result of the COVID-19 pandemic. Taking extra precautions with your business’s and your employee’s home networks keeps your information out of harm’s way.

Our client’s situation is not an uncommon one. It could have been a lot worse for them, too, if we weren’t there to act fast and regain control of their network. For someone not trained in this type of recovery, the process could have taken four or five months. Otherwise, there would be little choice except to pay the ransom.

Layering your cybersecurity methods and making sure your employees have the proper training is the best thing you can do to prevent this kind of attack from putting a halt in your business.

If you’re concerned about cybersecurity at your business, we can help you. It’s always better to be proactive than reactive in your cybersecurity measures! Click this link to get started with a CyberSecurity Threat Analysis. This analysis will help you discover where your business is most vulnerable to attack and how to protect against one!