Everything You Need to Know About Ransomware

Why Is It Important to Know About Ransomware?

You’ve heard of businesses being targeted by ransomware — sometimes costing them thousands of dollars. Here’s what you need to know to protect your own company.  

Our clients consistently raise concerns about a type of malware that’s frequently in the news today: Ransomware. They do so with good reason. Ransomware incidents are on the rise in the Mid-Atlantic region and all over the United States and North America.

This article aims to define ransomware for those who are appropriately concerned about this rising threat to businesses of all sizes. We’ll also discuss ways you can approach your company’s cybersecurity that will help prevent a ransomware attack and other forms of cybercrime.

What Is Ransomware?

As the name implies, ransomware is a type of malicious software or malware, which holds part of your business’s data or system access for ransom. Ostensibly, you won’t be able to regain access until you pay a specific amount to the hacker who originated the software. The hacker promises that if you pay the amount they demand, they will send you an encryption code in return. With this code, you’ll be able to get your data and/or system access back.

Of course, this isn’t a guarantee. In some cases, hackers have been known to keep the ransom payment and withhold data or system access. They may then demand more money or simply drop off the face of the earth.

Moreover, if you do decide to pay the ransom, the process isn’t easy. Hackers often demand to be paid in the Internet crypto-currency called Bitcoin, which helps them remain untraceable by law enforcement.

Isn’t Ransomware Just Another Type of Cyber Attack That’s Making the Rounds?

No. Businesses should be careful to avoid all types of malware and outside infiltration, but there’s also a big difference between ransomware and other types of cyberattacks. Most notably, ransomware can ultimately put your business under by holding essential data or your entire system access for ransom. You either lose or compromise all of your data or lose your systems entirely, or you pay thousands, or even hundreds of thousands.

It’s already happened to a long list of businesses, organizations, and governmental institutions around the nation.

On the other hand, many types of malware like adware, for example, are more of a nuisance than anything. Certainly, other malware besides ransomware can debilitate your business, but right now — and according to statistical experts, for the near future — ransomware is the main enemy.

The FBI has noted that, “Ransomware attacks are not only proliferating, but they’re also becoming more sophisticated. Several years ago, ransomware was normally delivered through spam e-mails. Still, because e-mail systems got better at filtering out spam, cybercriminals turned to spear phishing e-mails targeting specific individuals.”

How Can Menark Help Defend Your Business Against Ransomware?

As a leader in cybersecurity for Mid-Atlantic businesses and organizations, Menark is well-versed in the best ways to prevent ransomware attacks in your company. First, we’ll help you set up a business continuity and disaster recovery plan, which will prepare you if a ransomware attack happens right away. With daily backups on-site and in the cloud and a comprehensive continuity plan in place, there’s little risk that even a complete shutdown of your business by ransom malware could cause significant disruptions.

Next, we’ll ensure that you have the best security barriers set up to prevent ransomware attacks altogether. This includes business-grade firewalls, anti-virus software, anti-malware, DNS filtering, and more. Finally, we’ll train you and your employees in the best ways to avoid ransomware scams. Unfortunately, it’s generally the inadvertent actions of people within your business who end up leading ransomware right where it wants to go. This is usually though clicking on a malicious email link, attachment, or download.

Ready to start fortifying your business with top-level cybersecurity and ensure you never have a problem with ransomware? Contact Menark Technologies today.