Ransomware Attacks: Here are Some Things Every Small Business Owner Should Know

Many small businesses don’t worry much about cybersecurity, and that is why cybercriminals mainly target them.

And as much as it is tempting to think that your business is small enough that cybercriminals won’t target you, you are wrong.

The year 2020 saw an enormous rise in ransomware attacks, with small businesses being the most targeted.

The following are some things to know about ransomware and how to protect your business.

 

What is Ransomware?

This type of attack encrypts your company files so that you can’t access any information, and your data is held for ransom.

And to give you back access to your data or decrypt it, the attacker usually asks for payment.

 

Types of Ransomware

Hackers use two types of ransomware in an attack; they can use crypto-ransomware that encrypts your data, making the data inaccessible unless the hacker gives you a unique decryption key.

The attackers can also use locker ransomware that locks you out of your company devices. This is usually the most common attack, and a cybersecurity expert can quickly help you gain back access.

 

Protecting your Company from Ransomware

The good news is that there are various things you can do to protect your business from this type of attack.

 

Prepare yourself

The initial step you need to take to protect your company is to conduct a thorough review of all your current security policies. Most small businesses make the mistake of thinking that a single cybersecurity system can protect them.

However, protecting your company is an ongoing process, not just a one-time job. You need to perform a risk assessment to ensure that all your software is updated with the most recent upgrades; read more about risk management.

 

Train your employees on cybersecurity

Did you know that human errors cause most data breaches?

So, it is vital to protect your company from ransomware attacks by educating your workers. This will help them understand the company’s security policies and the risks connected to data breaches.

Your workers must understand the fundamentals like not opening emails and attachments from anonymous senders and how to identify sham websites as well as email addresses.

 

Regularly backup your data

This process might consume some time and effort, but the significance of backing up your data cannot be overlooked. Try using a cloud service that uses an exceptional level of encryption and multiple-factor authentication.

This way, all your files will be saved to external hard drives where they cannot be prone to ransomware, as long as they are not connected to your devices.

 

Keep your software updated

You are putting your company at greater risk if you are using outdated security software. This is because the most recent software utilizes real-time protection.

Consider using an updated and trusted set and make sure that it is updated regularly since new threats are constantly coming up from both your customers and your business.

 

Conclusion

Ransomware is one of the most common types of cybercrime, and as much as many big businesses fall, victim, small businesses are targeted too.

Therefore, prioritize business security by having your workers trained on cybersecurity and the risks of a data breach, updating your software, and being prepared for anything.