Five Tips to Help Prevent Ransomware Attacks
As businesses become more aware of the dangers posed by cyber-attacks and ransomware, they are enhancing their IT security tools and practices. However, cybercriminals constantly evolve, devising new tactics to breach systems and steal valuable data. Compounding the issue, the costs associated with cyber breaches are rising. According to Ponemon’s 2019 Cost of a Data Breach study, breaches originating from malicious cyber-attacks were not only the most common but also the most expensive.
Here are five updated tips to help protect your organization from ransomware and other cyber threats:
1. Strong Passwords Are Not Enough—Enable Multi-Factor Authentication (MFA)
While strong passwords are essential, they are insufficient in today’s threat landscape. Companies should implement and enforce multi-factor authentication (MFA), especially for users with elevated access rights. MFA provides an extra layer of security by requiring users to verify their identity through a second method, such as a mobile app or email, before gaining access to accounts or systems.
2. Outdated Anti-Virus Software Is a Weak Point—Upgrade to Endpoint Detection and Response (EDR)
Traditional anti-virus software no longer offers adequate protection against sophisticated threats. Consider upgrading to Endpoint Detection and Response (EDR) solutions. EDR software is more advanced, using real-time monitoring and automated responses to detect and mitigate threats faster and more effectively than traditional anti-virus solutions.
3. Implement Advanced Email Spam Filtering and Employee Training
Although no spam filter will catch every malicious email, a high-quality spam filtering service can drastically reduce the number of phishing attempts reaching your users’ inboxes. In addition to implementing these filters, educating your employees on identifying and dealing with phishing attempts that do slip through is vital. Cybersecurity awareness training should be a regular practice to minimize human error, a common ransomware entry point.
4. Introduce Multiple Redundancy Points for Backups
Backup systems are essential, but even they can be compromised. Ransomware can affect cloud servers and backup systems, rendering them unavailable. Ensure you have multiple layers of redundancy in your backup strategy, such as off-site backups, disconnected backups, and cloud-based solutions, to recover critical data even during a breach.
5. Regularly Patch and Update All Systems
One of the most basic yet often overlooked ways to prevent cyber-attacks is regularly patching servers, computers, and devices. Ensure that all operating systems, software, and firmware on hardware devices are current. Cybercriminals often exploit vulnerabilities in outdated systems, so keeping them patched and secure is a simple but crucial defense.
Don’t Forget: Ensure You Have Adequate Cyber Insurance
Even with robust security measures, no system is 100% safe. Having comprehensive Cyber Insurance is vital in today’s digital world. Ensure your cyber liability policy covers ransomware attacks, extortion payments, legal and forensic fees, and data recovery. This coverage can be your company’s financial lifeline in the event of a significant breach.
If you need more information on protecting your business from ransomware or require assistance with any other risk-related issues, feel free to contact Albert Sica, Managing Principal, at 732.395.4251 or [email protected].
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