How can IT professionals protect their companies from ransomware?
Posted: Tue Jan 21, 2025 10:07 am
Cyberattacks on businesses are becoming more frequent and costly, making it crucial for your company to consider how to protect sensitive business data, applications and systems from the threat of cybercrime.
Cyberattacks are on the rise, and experts have specifically identified ransomware as one of the fastest-growing exploits. In fact, the U.S. Department of Justice went so far as to call ransomware “a new business model for cybercrime.”
The direct and indirect costs of recovering from a ransomware attack
In 2016, a ransomware attack occurred every 40 seconds . By 2021, one is expected to occur every 11 seconds. With the increasing likelihood of your business being affected by ransomware, it’s important to understand the financial impact a ransomware attack can have.
Costs of physical recovery
Security experts don't usually recommend paying the japan whatsapp data ransom, but many companies do so in the hope of recovering their data quickly and safely. In the first quarter of 2020, the average ransom value was estimated at more than $100,000 – a huge outlay for almost any organization.
Another major cost of recovery for those who suffer a ransomware attack is replacing or repairing affected hardware, such as servers and workstations. A good malware detection tool can offer an additional layer of protection, but it is crucial to quickly isolate infected devices and remove them from the network before catastrophic damage occurs.
In an ideal world, businesses would hire third parties to conduct security assessments before being hit by ransomware. But it's also a good idea to have cybersecurity professionals assess your system after an attack, to identify weak spots and vulnerabilities in your security perimeter and enable you to prevent future attacks.
Indirect costs of ransomware
A ransomware attack not only results in direct costs, but also less tangible financial impacts, such as reduced employee productivity and lost revenue due to system downtime.
Today’s users don’t overlook downtime or data security. A major incident can permanently damage your company’s reputation and cause you to lose new and existing customers. Additionally, your company’s stakeholders may no longer trust your ability to protect their data.
Cyberattacks are on the rise, and experts have specifically identified ransomware as one of the fastest-growing exploits. In fact, the U.S. Department of Justice went so far as to call ransomware “a new business model for cybercrime.”
The direct and indirect costs of recovering from a ransomware attack
In 2016, a ransomware attack occurred every 40 seconds . By 2021, one is expected to occur every 11 seconds. With the increasing likelihood of your business being affected by ransomware, it’s important to understand the financial impact a ransomware attack can have.
Costs of physical recovery
Security experts don't usually recommend paying the japan whatsapp data ransom, but many companies do so in the hope of recovering their data quickly and safely. In the first quarter of 2020, the average ransom value was estimated at more than $100,000 – a huge outlay for almost any organization.
Another major cost of recovery for those who suffer a ransomware attack is replacing or repairing affected hardware, such as servers and workstations. A good malware detection tool can offer an additional layer of protection, but it is crucial to quickly isolate infected devices and remove them from the network before catastrophic damage occurs.
In an ideal world, businesses would hire third parties to conduct security assessments before being hit by ransomware. But it's also a good idea to have cybersecurity professionals assess your system after an attack, to identify weak spots and vulnerabilities in your security perimeter and enable you to prevent future attacks.
Indirect costs of ransomware
A ransomware attack not only results in direct costs, but also less tangible financial impacts, such as reduced employee productivity and lost revenue due to system downtime.
Today’s users don’t overlook downtime or data security. A major incident can permanently damage your company’s reputation and cause you to lose new and existing customers. Additionally, your company’s stakeholders may no longer trust your ability to protect their data.