08/10
2021
Don’t pay ransomware - update your backup and security
Posted by Ash Khagram on 08/10 at 10:00 AM Security,
Don’t pay ransomware - update your backup and security

The world had its first ransomware attack in 1989. Hackers demanded £150 for the key to decrypt documents and images. Thirty years on and the landscape has changed with more organised criminals demanding thousands or even millions from businesses of all sizes across the globe.


Ransomware has become a very lucrative cyber-crime with groups working individually or sponsored by affiliates to execute attacks and gather intelligence while utilising support staff and ransom negotiators to launch their malicious codes.


Cyber criminals exploit any loopholes within a business, especially one that hasn’t updated its IT systems. In most cases of ransomware, successful attacks can be linked to a flaw in a security process or a lack of awareness by staff.


Businesses are paying the ransomware to keep operating, but by paying the demand, their IT systems are still vulnerable and in need of a repair or upgrade. With more cyber-crime groups sharing routes into other systems, these repairs and upgrades need to be carried out at soon as possible. What are your options?


Cyber insurance
Businesses are now adding cyber insurance policies to guard against a ransomware attack and to cover the cost of the decryption key. This reactive step has grown substantially in the last few years and lines the criminals’ pockets by giving them money to invest in new tools, recruitment and purchase of credentials from the dark web. While some see it as a simple option, this is not entirely the best.


Prevention solutions
Businesses that have made security an operating cost instead of a supplementary cost are changing the effectiveness of ransomware and other cyber-attacks. It’s also cutting the cost of cyber insurance with some providers discounting the policy costs if the business have invested in more preventative measures. We recommend:

  • Air-gapped data backup – Be able to bring a backup online when your current data is encrypted to ensure your business can still run when an attack occurs.
  • Next generation firewall – Threats coming from the internet can be easily blocked before they penetrate your network perimeter.
  • Co-location solution – Data should be stored in multiple locations so that if one site is inaccessible due to a cyber-attacks, the other site can go live while the issue is being resolved.
  • Cloud-hosted device security – Utilise a host of preventative security technologies such as email protection, mobile device management and Microsoft 365 backup manager.
  • Dark web monitoring – Keep track of user domain credentials by monitoring the dark web and tracking any information which has been exposed.
  • Penetration testing – Engage with a professional ethical hacking company to perform a controlled attack on your network to expose any unsecured access.
  • Constant cyber security training – Keep staff informed with constant training on the latest security threats, how to identify and how to avoid them.

 

By combining some or all these security solutions, your business can shield itself from ransomware and bring down the overall cost of your business insurance. Contact us for a 1:1 consultation.

Posted by
Ash Khagram's avatar
Ash Khagram on 08/10/2021

Ash joined us as the digital marketing manager in 2016 with 20 years of marketing expertise from the software and engineering industry.

As a true geek, Ash keeps up to date with current technology trends and innovations in marketing. He spent the last eight years working with leading software companies such as Microsoft, Intel, Adobe etc to create B2B and B2C marketing campaigns.

Ash moved from London in 2007 with his family to enjoy the idilyic surroundings of Dartmoor and the coastlines Devon has to offer.


Contact: ash.khagram@swcomms.co.uk



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