What small businesses need to know about ransomware attacks

It’s tempting to think the average cyber extortionist has bigger fish to fry than your small business, but while they may receive less attention, 50% to 70% of ransomware attacks are aimed at small and medium-sized companies, Inc. reports.  

That data comes from Secretary of Homeland Security Alejandro Mayorkas, who says that the recent surge in remote work was a golden opportunity for hackers, who took advantage of out-of-date VPNs and unsecured home networks. 

Small businesses are often targeted by cybercriminals, who hold important or sensitive data for ransom, because they don’t have the same resources to effectively prevent and respond to threats as larger firms. 

Here are a few things cybersecurity experts interviewed by Inc. say you should know about ransomware:

• Every industry is vulnerable. 

• Always remember to back up any data. A cloud-based backup may be a good option, since it keeps your data off-site and immediately accessible. 

• Don’t forget to secure your remote workers, by making sure they’re trained to spot phishing attempts, use two-factor authentication, and download the most recent updates of security software. 

• Have a plan of action for a ransomware attack.

• You’re almost guaranteed to lose some of your data. Although every situation is different, experts typically urge businesses not to give in to hackers’ demands. 

• Don’t count on law enforcement to recover ransomware payments. Nearly 98% of ransomware payments are made in Bitcoin, because it is difficult for authorities to track. Read the full story from Inc.

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