Ransomware and Why You Need the Latest Cyber Security Technology

Ransomware and Why You Need the Latest Cyber Security Technology

Cybersecurity threats are becoming more and more dangerous as technology advances. Too many companies across the country are struggling to keep up with the security demands necessary to protect their data and assets. One of the more troublesome kinds of threats is ransomware. Learn all about ransomware and why you need the latest cybersecurity technology.

What Is Ransomware?

Ransomware can be particularly dangerous and costly for a business. Essentially, ransomware is designed to hijack access to your accounts and data in an effort to lock you out and hold it hostage. The hijacker will then demand payment, often in the form of cryptocurrency like bitcoin, to return access to your data. This can happen to all sorts of businesses as well, as Mike from BoomTech explains, “Ransomware impacts all types of businesses from large enterprises to small startups all across the country.”

The cost of ransomware can be substantial. Being locked out of your systems could mean a complete stoppage of business. Your clients and customers may no longer trust you with their data, so you could be dealing with PR problems as well. Because the attackers typically demand cryptocurrency for payment, even paying the ransom can be complicated.

Business Continuity

While they’re more of a contingency plan than an actual defense, it’s always best to have business continuity strategies in place. Should your business be attacked by ransomware, being locked out of your data and files can grind your business to a halt. If you have backups, however, you can still operate to some degree. The only remaining issue is the ransomware attacker threatening to release any potential compromising data they have access to.

Cybersecurity Defenses

The threat of ransomware is one of the main reasons why companies need to be equipped with the latest in cybersecurity defenses. That means simple antivirus protection that you’d find on the average home computer won’t be enough. Additionally, single password security is relatively easy to crack for cybercriminals. Even two-factor authorization can be compromised. As CNET explains, any single-use SMS message codes can be intercepted. You’ll have to upgrade security to stay safe.

Establish Best Practices With You and Your Staff

Ransomware can enter your system in a wide variety of ways. Unfortunately, the greatest threat to your cybersecurity efforts is you and your staff. Classic human error is the most common way cybercriminals infiltrate systems to hijack data. To keep yourself safe, you’ll need to stay up to date with the latest in ransomware developments and regularly train your staff as well. For example, make sure everyone knows not to open any attachments that they weren’t expecting and to change their passwords regularly about every month or so.

Hire an IT Service Company to Help

With the increasing complexity of cybercrime efforts and programs, it’ll be tough to handle it on your own. The threat of cybercrime has also grown significantly in response to the COVID-19 pandemic, so it’s more important than ever that you have the necessary managed IT services capable of keeping your business and livelihood safe from ransomware attacks.

If you’re looking for service you can always count on, look no further than BoomTech. Our team is dedicated to providing top-of-the-line IT solutions that keep up with the latest developments in cyberattacks. Not only do we monitor systems, but we consistently upgrade our efforts in response to new technologies that may be used against you. Contact us today to learn more!