2020 Ransomware Preparedness: 5 Steps to Secure Your Business

      Posted by May Elliott on Dec 19, 2019 11:00:00 AM

      Ransomware, malicious software that prohibits access to your computer system until a ransom is paid, is a common cyberthreat that affects thousands of companies each year. According to Cybersecurity Ventures, ransomware is expected to hit a new company every 14 seconds throughout 2020. This means that in 2020 we can potentially expect to see up to 6,000 attacks per day. Ransomware can infect your network in a variety of ways, including via malicious email attachments, infected USB ports, malvertising or downloading images. With its adaptability and rapid growth, organizations need to solidify their protection plans now for the new year. Here are five steps to secure your business and prepare for a ransomware attack in 2020.

      A ransomware attack occurs ever 14 seconds

      1. Use Cloud Backup and Disaster Recovery Services

      With ransomware attacks increasing over 97% in the past two years, it’s more important than ever to back up your data and prepare your business for worst case scenario. Backup as a Service (BaaS) and Disaster Recovery as a Service (DRaaS) powered by Veeam Cloud Backup and Veeam Cloud Disaster Recovery, protect your information from malicious attempts and allow you to recover data quickly in the unfortunate event of a ransomware attack. This past year, the cost of a single cyberattack grew to $1.6 million. Based on this amount, backup and disaster recovery services are some of the smartest investments your business can make in 2020.

      A single cyberattack costs $1.6 million

      2. Follow the 3-2-1 Rule

      Not only is it important to back up your data, but the way it’s backed up is also crucial. You’ve probably been told to always save your files and to replicate them on external hard drives in case your computer crashes or files are accidentally deleted. This same concept applies to your critical business data, and it’s called the 3-2-1 rule. Think of it as the magic math equation for cloud data backup. The 3-2-1 rule is a best practice of data backup, outlining that your company should maintain three copies of data, on two different forms of media, and host one copy offsite. Should ransomware attack your company, you’ll be at ease knowing your data is safe, and you can still operate business as usual thanks to cloud redundancy and offsite storage.

      3 copies of data stored on 2 forms of media and in 1 offsite location

      3. Create a Cybersecurity Culture

      Establishing a cybersecurity culture throughout your organization is another effective way to avoid ransomware. With cloud solutions securing your business, it’s easy to undermine the importance of a cybersecurity culture, however, neglecting it could endanger your business. In fact, many companies do not enforce cybersecurity practices at all. According to a Google survey, 33.3% of employees claimed that they received no cybersecurity training from their corporations.

      33.3% of employees never received cybersecurity training

      To distance your company from that statistic, conduct educational and engaging cybersecurity training for new and existing employees. Present real-life examples and administer assessments to better help them detect ransomware and other malicious attacks. Educate employees on email security and social media privacy. Require strong passwords and multi-factor authentication throughout your entire organization for consistency and to close any remaining gaps. Implementing these protocols now will reduce human error and secure your business from a data breach in 2020.

      4. Use Security as a Service (SECaaS)

      A new year ahead means new ways for hackers to strike, but it also means improved cloud solutions to combat any type of ransomware. Cybercrimes will only gain traction in 2020, so it’s imperative that your business is prepared with all-in-one cybersecurity.

      Security as a Service (SECaaS) is an all-in-one cybersecurity solution

      Take advantage of Security as a Service (SECaaS). It includes end-to-end solutions like Security Information and Event Management (SIEM), Intrusion Detection & Prevention, email security, firewall protection and anti-virus. Hacking methods are becoming more intelligent, which means that your company needs high efficiency and guaranteed security to survive. Not only will your business be fully protected through Security as a Service (SECaaS), but you can avoid the hassle of seeking cybersecurity from multiple places.

      5. Endpoint Detection & Response (EDR)

      Endpoint Detection & Response (EDR) is an uprising security solution, created for higher detection quality and quicker response times for endpoint attacks. It’s able to detect malicious activity in real time and instantly mitigate ransomware. Traditional anti-virus and Endpoint Protection (EPP) do not entirely solve the cybersecurity issue for businesses.

      Cloud security guarantees 99.99% business protection

      Although the cloud is 99.99% effective, a poor network connection can act as an open gate for malicious activity. In a nutshell, EDR fills in remaining gaps and helps prevent future attacks, streamlining the security process. If your business is in the healthcare industry, is a financial institution or stores highly sensitive information, you may be especially susceptible to cyberattacks. Consider EDR as an added security layer.

      Bottomline

      It is becoming inevitable that ransomware will attack your business, especially if preventative actions aren’t taken. Fortunately, cloud security and a strong internal culture can avert ransomware and other cyberattacks. Establish security protocols and research cloud solutions now to determine what will be best for your business in the new year.

      Topics: SECaaS, Cloud Security, Cybersecurity, Cyberattacks