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October 31, 2016 @ 12:00am

Cyber Crime

Malicious emails coupled with a general lack of employee cyber security training is the leading cause of a successful ransomware attack. Ransomware is a type of malware that infects computer systems, restricting users’ access to the infected systems and has become the most prominent global threat to business cyber security today.


Rhyme iT

CryptoLocker is one of the most common strains of ransomware attacking companies around the world every single day. CryptoLocker renders its victim’s files unreadable using encryption, then demands payment to un-encrypt them. Typically, CryptoLocker ransom demands are not particularly high—usually in the range of $200 to $500. However, the cost of downtime associated with ransomware can add up quickly, especially if the malware spreads beyond a single computer and onto your company’s network.

Why Does It Matter To Me?
As data is the nucleus of today’s businesses, ransomware has the potential to take out even the most stable businesses in a matter of minutes. While a growing number of companies are leveraging the recommended solutions for protection, such as backup and disaster recovery technologies and anti-virus software, many are not. The latter group includes a large number of small businesses who typically operate without a dedicated in-house IT expert and from antiquated systems. These businesses rely just as heavily on data as bigger organizations, yet they often operate without the proper data protections in place to defend against, prepare for, and recover from ransomware.

Ransomware by the numbersToday’s cyber criminals, well aware of this vulnerability, are taking advantage and making billions. Downtime from ransomware costs small businesses around $8,500 an hour. In the US, this adds up to a loss of $75 Billion+ per year.

• The leading cause of a ransomware infection is phishing email scam followed by a lack of employee awareness.
• Ransomware also targets cloud-based applications as seen by 35 percent of IT service providers, particularly Dropbox, Office 365 and Google Apps.

What Can We Do To Protect Our Business?    
Rhyme iT can help you implement reliable solutions and best practices to protect yourself.

• The #1 most effective solution for business protection from ransomware is a backup and disaster recovery (BDR). If small businesses have a BDR solution in place, nearly 100 percent of MSPs dealing with ransomware have been able to resolve the issue.
• Provide regular cyber security training to ensure all employees are able to spot and avoid a potential phishing scam in their inbox, a leading entrance point for the malware.
• Standard preventative measures, such as anti-virus software, SPAM filters, and regularly updating systems should be taken.

For more information or to contact Rhyme iT with issues you are currently experiencing,
call us at 800-362-4333 or fill out our online form.

If you want to learn more about ransomware and phishing see:

Understanding the Ransomware RiskAvoiding Social Engineering and Phishing Attacks

 

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Post tags:Security Managed IT

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