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Dangers of Ransomware to Small Businesses

Managed IT - Ransomeware

Small businesses and startups have a tough road in trying to establish themselves in the market. Even the tiniest issues can prove fatal for these businesses. They have to invest a significant amount of money in setting up their websites & social media, and a cyber-attack means the business have to incur huge expenses to clean up the mess.

Dangers of Ransomware for Small Businesses

Ransomware is a type of malware that locks the computer screen or encrypts files and prevents the user from accessing the files until a ransom is paid. According to FBI reports, ransomware cost businesses more than $18 million in the last two years.

The loss associated with ransomware is not only financial. A company’s reputation is at stake. Clients think twice before entering into contracts with such businesses if they feel the confidential information is not secure. Engaging new customers is the key for any small business to take the steps towards success and cyber-attacks like ransomware can erode confidence leading to loss of business.

Besides these threats and dangers, failure to recover critical data might end up causing the business to shut down.  Ransomware can also steal sensitive customer data which is then used to defraud them or steal their identity. The breached business is liable for these also if the data loss is traced back to them.

Starting and running a business is hard enough already without adding the complication of a data hijack. Here are some cost-effective ways you can prevent your business from being the next headline in the ransomware news.

Ways to Prevent Ransomware

When it comes to ransomware, prevention is better than cure.

  • Avoid visiting questionable sites. Most commonly, ransomware lurks on adult and free software sites.
  • Be careful when clicking links in emails. These links may redirect you to download some malware and take control of your confidential user data.
  • Use internet security programs. You can use an updated antivirus to prevent your computer or system from getting infected.
  • Implement a robust Spam, attachment, and URL filtering service to lower your exposure.
  • Run a well-managed firewall at your network edge to prevent intrusion.
  • Run a regular phishing threat assessment on your staff to identify employees needing training.
  • Verify email attachments with the sender before opening them.
  • Do not make contact with emails offering money won from lucky draws etc.

These are some ways to prevent Ransomware from infecting your network and getting a hold of useful business information. Systemverse Managed IT Services takes ransomware very seriously. We have an array of solutions including regular backup and offsite disaster recovery so we can get your business back up and running quickly should all the listed prevention methods fail.

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