Despite the cute name, ransomware is a serious organizational threat. If you’re not prepared, a ransomware attack could take down all your internal systems and threaten you with millions of dollars in damages – not to mention reputational damage that could last for years, if not decades.
What steps can you take, as an organization, to prevent this damage and minimize the likelihood of suffering a ransomware attack?
What Is Ransomware?
It’s hard to guard against a threat you don’t understand. So what is ransomware, exactly?
Ransomware is a type of malware designed to take over a device, or sometimes an entire network. Once it infects its target, it can completely prohibit user access. For example, if ransomware takes over your computer, you’ll be unable to access any of your files or applications on the device; instead, you’ll simply see a mostly blank screen with a message containing the ransom.
To restore your device or network back to its former state, you’ll need to pay a ransom to the person or group who initiated the attack. Oftentimes, this is an egregious sum of money to be paid in the form of Bitcoin or other cryptocurrency, since most cryptocurrencies are practically untraceable.
The scam is popular for a few different reasons. For starters, it’s not especially difficult to get ransomware installed on a device or a network, since most organizations have awful cybersecurity standards. More importantly, ransomware is highly profitable, since most individuals and businesses are incentivized to pay the ransom so they can take care of the issue as quickly as possible.
How to Guard Against Ransomware
So what steps can you take to guard your business or your personal devices against ransomware?
- Set up a data backup and recovery plan. Start by setting up a data backup and recovery plan. This is arguably the most important step to take, since it will protect you even if you do eventually fall victim to a ransomware attack. With proper automated backups in place, you’ll be saving copies of all your files and information. If a ransomware attack takes over your network, you can simply restore your system to a prior state and keep moving forward as if nothing happened. The most you can lose is a day of work, as long as you’re backing up your data every day.
- Keep all your devices and software up to date. Obsolete and outdated technologies are common targets for ransomware hackers. Old versions of software and old operating systems tend to be rife with easily exploitable vulnerabilities. If you refuse to update your hardware or software, it’s going to be easy for cybercriminals to take advantage of them.
- Utilize antivirus software and firewalls. Antivirus software and firewalls aren’t perfect security measures. It’s still possible to circumvent them. But they do add a layer of difficulty that won’t be present in other targets. Nothing is totally hack proof, so some of your best strategies involve making yourself a more difficult or more complicated target – thereby dissuading people from attacking you.
- Restrict user access. Limit the amount of access that your users have. A single vulnerability is all it takes to compromise an entire network if everyone has unrestricted access.
- Set up strong email filters. Ransomware is commonly installed through nefarious emails. Mysterious email attachments, download links, and links to phishing websites are all the first step of the process. If you have strong email filters to eliminate these messages before people can act on them, you’ll avoid many attacks.
- Employ solid password habits. Make sure everyone in your organization is using strong, unique passwords. If a password is weak or easy to guess, it’s only a matter of time before a cybercriminal can start using it to gain access to your devices or networks. Good passwords utilize a variety of different symbols, including uppercase letters, lowercase letters, numbers, and special symbols. You should also make your passwords as long as possible, using many characters, and avoid using the same password more than once.
- Watch out for social engineering. Social engineering is a common practice of ransomware hackers. That’s why it doesn’t require any technical skill. Be on the lookout for people assuming the role of an authority figure, and never voluntarily give out your personal information.
- Train and educate your employees. Always make sure that your employees are trained and educated on the latest cyber security best practices. The security of your organization is only as strong as its weakest link, so every member of your team needs to have their own robust defenses in place.
Ransomware isn’t going away anytime soon. It’s an accessible and potentially lucrative form of cybercrime. But with the right security measures in place, and constant vigilance, you can successfully guard against most ransomware attacks.