Two Minutes of Ransomware Attacks: The Facts
In this blog post, we will discuss what Ransomware is, how it is used and the risks associated with it. We will also provide tips on how to protect yourself from ransomware attacks.
If you prefer to watch Liam explain Ransomware in two minutes, click here.
What is Ransomware?
Ransomware is a type of malware that locks users out of their devices or files until a ransom is paid, this form of attack has been around for a few years now, but it has become increasingly popular in recent months, with ransomware gangs more active than ever before.
How does a Ransomware Attack affect a Business?
There’s many ways ransomware can be successfully deployed against a victim. This can be through clicking on malicious links, downloading malicious files or somebody physically intruding into the business and implanting malware. The most common type of ransomware is crypto-ransomware, which encrypts files and demands payment to decrypt them.
Why is Ransomware Dangerous?
- Business Delays – Dealing with ransomware can delay a business from returning to work and takes a toll on the repairing of company infrasturucture.
- Reputation damage – Clients and suppliers may trust your business less.
- Financial damage – The damage to a business financially is extreme, mainly due to lost business and downtime during the remediation phase.
How can Businesses stay Protected against Ransomware Attacks?
Ransomware is impossible to be completely protected from, however the primary focus is basic cyber security, for example, using password managers, not clicking on suspicious links and making sure your software is patched are key ways to avoid these forms of attack. We can’t stress enough how necessary employee training and cyber security awareness is within your business. Ultimately, in a worse case scenario, ensure you have back ups, your software is up to date and your business has a strong incident response plan to get business back to usual as soon as possible.
There are various ways that ransomware can effect a business and there are several risks associated with ransomware attacks. Following these basic cyber security steps can significantly reduce the chances of your business suffering a ransomware attack.
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TechBite Lets Explain Ransomware
Ransomware Attack Video Transcript
Ransomware is a malicious programme that when successfully executes encrypts files on host machines, and then request payment generally in the form of cryptocurrency. To unlock those files
There’s any number of ways that ransomware can be successfully deployed against the victim. either clicking on malicious links downloading malicious files, being subjected to technical attacks against the peripheral network, or even somebody physically intruding into the business and planting malware on the network.
Ransomware is dangerous for a number of reasons. Firstly, because all the files on a host have generally been encrypted, you can’t continue business as usual. Second, it causes massive reputational and financial damage, you’re either going to have to pay the ransom in order to get the decrypter. Or you’re going to have to start engaging with Incident Response Teams. And those can get reasonably expensive as well. The reputational damage that’s caused by these attacks can’t go understated either. Having your brand name associated with poor security, which is unfortunately what happens after people are victims of these attacks is not something you want, not in 2022.
Unfortunately, it’s actually quite challenging to keep completely saved from ransomware. Although, primarily it boils down to just basic cybersecurity best practice. Keep Password Safe, use password managers, don’t click on links and emails. Don’t browse to malicious sites. Make sure all your software is patched. Make sure you’ve got a patching cycle. And ultimately, in the event that absolute worst case scenario happens, make sure you’ve got backups and make sure you’ve got a strong incident response plan. So you can get back to business as usual as quickly as possible. That was ransomware explained. I hope this has been helpful. Thank you