As compared to 2017, ransomware attacks have slowed down both in 2018 and 2019. But, recent events suggest that ransomware attacks are far from over. The new targets are the municipalities.
If you leave your IT security unattended, you invite higher risks to your organization. With a compromised database or business network, you may have to face larger financial and reputational losses in the future.
This article will give you the essential tips and tricks to set up advanced IT security for your business.
Why is Ransomware Effective?
Criminals the world over hold important assets for ransom to earn money or something of value in other forms. In the digital world, this holding of ransom takes the form of ransomware.
In ransomware attacks, a cybercriminal infects a device via spam or phishing attacks. Once the encryption gets bypassed, the entire network gets infected. With phishing strategies, the vulnerabilities surrounding these attacks were reduced. Despite ransomware infections coming down, the FBI’s Internet Crime Complaint Center shows that damages due to ransomware are on the rise.
For instance, let’s consider the attack on the municipalities.
The Reasons for Targeting Municipalities
In 2019, Riviera Beach and Lake City of Florida, were forced to shut down due to a devastating ransomware attack. This wasn’t the only big attack on municipalities. The LaPorte county of Indiana had to pay a ransom of $130,000 when the ransomware Ryuk rendered their domain controllers useless.
Administrative offices are prone to cyberattacks due to the insurance coverage for ransomware attacks, meaning municipalities can quickly pay the ransom. Consequently, these counties, and towns don’t have a lot to lose and are more inclined to pay the ransom.
However, if your business has become a victim of ransomware, we recommend you not to pay the ransom.
How to Prepare for a Ransomware Attack?
Keep a backup of your business data. Also, ensure that these are up to date. If they are not up to date, there are high chances that you will lose the original data to ransomware attacks.
On top of that, ensure that your employees are trained to spot and address ransomware attacks. But, in the case of IT security, your employees will have minimal access to their systems. The access is generally role-specific and minor.
Looking for assistance to advanced IT security? Feel free to get in touch with MyTek for at (623) 312-2440.