5 Things You Need to Know About Ransomware

Did you know that businesses large and small can feel the economic and reputational impacts of ransomware incidents?

Ransomware is a kind of malicious software that blocks access to data or technological systems until a business provides a sum of money to the attacker.

Ransomware incidents can leave companies in bad shape, and might even cause bankruptcy. To protect your business from ransomware, you need to understand it.

Keep reading to learn more.

1. Ransomware Is Hard to Detect

Attackers know that targeting businesses is harder to do with safeguards in place. They utilize legitimate tools to move about your system undetected to combat this issue.

Behaviors like this fly under the radar of typical detection systems. By using a comprehensive and continuous monitoring solution, you can detect these activities across your company.

With the right processes, you’ll be alerted when the most legitimate tools are being used against your business.

2. More Targeted Attacks

Because of the evolution in cybersecurity, attackers are no longer launching large-scale, multi-entry attacks. Instead, they get specific on how, when, and where they go after business systems.

In the technological industry, this is referred to as “whale-phishing.” It includes going after administrators and executives with privileged access to business systems.

To deter ransomware attacks like this, staff training is essential. Multi-factor authentication solutions will also help by ensuring the right people are gaining access.

3. Increased Reputational Extortion

A ransomware attack is much like a verbal threat. If you don’t give the attackers what they want, they will out you somehow.

Attacks are becoming more public and being reported by major news outlets.

Hackers have learned from past reports that they can threaten organizations by exploiting a breach in the news to harm their reputations.

4. IoT Patterns

Network management is essential to keeping business data secure, but this is much harder due to the rise of the Internet of Things (IoT).

Although rare for expert attackers to focus on one device, these devices are endpoints that your network needs to keep secure just in case.

When devices connect to your network, you need a solution to monitor traffic patterns. With this, you’ll receive an alert if a device communicates with an attack.

Catching an attacker at any endpoint will save the device and your network as a whole.

5. Costs Are Increasing

Total ransom payment amounts are quickly rising into the millions. Compared to just 2020, ransom payments have gone up by 43%.

Companies are more likely to pay ransom to eliminate the problem, but this is not a guarantee. Hackers might not give you back access to data or could still leak your private information online.

You have to consider all the risks when paying the ransom.

Expert IT Solutions

Managed IT solutions are a great way to avoid the problems that come with ransomware. You need a professional IT team to have the best chance of keeping your organization safe from attackers.

Pegasus Technologies can help your business run more smoothly and prevent attacks from occurring in the first place. Contact us today to learn what we can do for you.

Pegasus Technologies is the IT Team for organizations that don’t need a full-time IT department. Our technology experts build you a technology plan to keep your business running at its best. We have offices in Kennett Square, PA, Media, PA, and Wayne, PA to provide better computer support and IT services to you.