Ransomware: How you can help protect your company

Imagine one day you lose access to the critical information required to do your job. Without it, it is impossible to continue, right? This is exactly the position a ransomware attack puts you in when infecting your computer. 

Ransomware is a type of malware that hijacks all the data stored on the device once it’s installed. Worst of all, it can also spread over the network, contaminating other connected devices. 

In exchange for access to the stolen data, cybercriminals demand a certain amount of money as “ransom” (hence the name ransomware). If a victim refuses to pay, the scammer usually threatens to release all the information to the public. 

In the meantime, the systems of the affected company or industry remain paralyzed, leading to substantial financial — and also social — repercussions, especially in the case of critical infrastructure.

Alarming data

According to a study conducted by IBM, the average time required to carry out a ransomware attack has decreased dramatically, from 2 months to approximately 4 days. 

Once falling victim to the attack, the average downtime for a company is about three weeks. Worse still, this is usually how long it takes to simply restore systems; getting business back to market can take even longer. 

Paying the ransom is not advisable: studies show that around 80% of organizations that pay to recover their data end up being targeted again, usually with even higher financial demands.

Finally, the consequences of a ransomware attack are numerous: loss of critical data, reputational damage, mass layoffs due to cost-cutting, and, of course, legal challenges.

Unity is strength

To protect a company against ransomware attacks, all employees must do their part. After all, even if your organization relies on important security tools like anti-ransomware solutions, firewalls, antiviruses, and intrusion detection technologies, most ransomware attacks find a way in via a phishing email. 

In other words, a cybercriminal tries to convince you somehow to click on a fraudulent link or download a malicious file to infect your device, and potentially the entire corporate network.  

This means it is vital that you are aware of this and other cyber threats, to remain constantly vigilant.When you spot a suspicious message, contact your company’s cybersecurity team immediately.