Ransomware: 3 huge threats to your business and how you can stop them

TSG’s data protection partner Datto has released its latest findings on the malicious cyber-crime powerhouse that is Ransomware. We’ve picked out the top 3 threats to your business from the report, paired with some staggering statistics. It’s clear to see businesses must have a strong arsenal of tech solutions to fight these unceasing attacks.

But don’t panic – anti-Ransomware to the rescue! We’ve shone a spotlight on the best-in-class technologies that will put your business in the safe zone. Of course, our door is always open if you’d like to speak with one of our IT security experts.

Ransomware is growing and subsequent downtime causes a cash haemorrhage

“£71 million was lost by European SMBs due to Ransomware downtime between 2016 and 2017” –Datto

As Ransomware attacks continue to gain momentum, the losses for businesses range from exuberantly expensive to fatal. Organisations can suffer three-fold, initially with the price of the ransom, then the cost of downtime and the subsequent damage to reputation.

In addition to these obvious money drains and the blow to brand reputation, cyber-criminals are reportedly flagging businesses who pay up, increasing the chance of further attacks. The last thing you need is to be singled out as a ‘payer’.

So what’s the solution? 

When trying to articulate the first steps businesses should take in protecting sensitive and critical data, the team at TSG often uses the phrase ‘lock the doors and bolt the windows’. A simple analogy designed to emphasise the importance of taking an essential first step towards a robust IT security plan.

This first step is undoubtedly what anti-Ransomware solution Intercept X does. With the ability to stop Ransomware in its tracks, Intercept X is a must-have technology that protects your business data. From the WannaCry strain of Ransomware that infiltrated NHS systems to Zepto and CryptoGuard, Intercept X has you covered.

GDPR fines to hit businesses where it hurts 

“Less than 33% of attacks are reported to the authorities” – Datto

It’s essential for businesses to act as the GDPR deadline approaches, or risk the staggering fines (£17.5m or 4% of global turnover, whichever is higher) when GDPR comes into play in May 2018. Businesses are required to report breaches to the ICO within 72 hours.

As you can see from the above statistic it’s likely that breaches and attacks aren’t something the average business is in a position to report on. It anticipates that the first hurdle for many organisations is understanding exactly what has occurred and how they can report on this. 

So what’s the solution?

Intercept X provides root cause analysis. This feature allows businesses to understand exactly how and where an attack took place, a huge tick in the box for the Information Commissioner’s Office (ICO). Read more about GDPR and sign up to our GDPR processes webinar.

Root cause analysis provides a simple dashboard that pinpoints how an attack has attempted to enter the network; this could be via clicking a link in an email or opening a malicious attachment.

Lack of cyber-attack awareness is crippling organisations 

45% of respondents said a lack of cybersecurity training was to blame, with 42% pointing to phishing emails.” – Mimecast

Generating a culture that prioritises awareness and vigilance of cyber-attacks is a challenge for many organisations. With social engineering and attacks that have the ability to mimic colleagues, it’s no wonder businesses are caught out. Even in an IT company like TSG, empowering a workforce to understand the cyberthreat landscape presents a challenge.

So what’s the solution? 

Sophos Phish Threat allows you to simulate malicious email phishing attacks on your staff. The benefits of this are three-fold: firstly, the tool allows you to gauge the level of awareness staff currently possess. Secondly, it highlights the importance of scrutiny and understanding that not all emails are what they seem. Finally, it offers cyber-attack training to staff if needed.

If an employee clicks on a link in the simulated phishing email, they are taken to a webpage which notifies them of their mistake and provides training to improve knowledge and increase awareness.

And finally

We couldn’t write a blog about Datto’s Ransomware findings without featuring this transformational technology that can retrieve business critical data in minutes.

Offering total data protection, Datto is a cloud-based solution that backs up your business data in the background and enables you to retrieve your information quickly if disaster strikes.

Described as the ‘secret weapon in the war against cyber extortion’, Datto is the ultimate protection when it comes to safeguarding data. The Datto platform can easily protect physical, virtual and cloud infrastructure.

We’re helping our customers understand more about Datto’s disaster recovery and business continuity in our webinar, you can sign up here.