Why Are Ransomware Attacks Increasing In Popularity?

While ransomware attacks have been gaining in popularity, they actually have been happening for a long time. Fortunately, while these attacks often stop production and can have catastrophic consequences, there are a few ways you could protect yourself from being exposed to a ransomware attack.

Ransomeware attacks affect all industries. Do not think you or your company are immune to a ransomware attack. Meat production was halted recently due to an attack in Texas. This attack affected not only the company itself, but also the workers who were in jeopardy of missing rent payments. Ransomware attacks are deep reaching and affect the lives of many people.

What is a Ransomware Attack?

Like a Liam Neeson movie where a kidnapper demands ransom, a ransomware attack is like that except they hold your encrypted, electronic files hostage and not your teenage daughter. Essentially, they encrypt your files electronically, which in most cases shuts down your entire business. Whether it’s shut down for an hour or a week, the work stoppage could be catastrophic to your organization.

Unfortunately, all computer files are subject to an attack. However, there are certain measures you can take to increase your online security and protect your company from a ransomware attack. Our IT firm can help you determine what your best protection plan is.

Remember: cyber attacks are not victimless crimes. While it might seem like the criminals are attacking major corporations, customers and hard-working employees also feel the trickle down effects of an attack. The ramifications of a ransomware attack are steep, which is why it’s best to try to prevent an attack before it happens.

When was the First Ransomware Attack?

Floppy disks were first infected with a virus back in 1989. Just as computers were gaining in popularity, the bad guys soon figured out a way to attack and take advantage of new technology. While it might seem like ransomware attacks are gaining in popularity, and they are, they have been around for decades.

The good news is that IT security has continued to improve in that same time period, so you can now put more tools and weapons in your arsenal to fight off a cyber attack on your networks.

Small Businesses are not Immune to Cyber Attacks

While you might think criminals only go after large companies with billion dollar portfolios, that is not the case. Often times, larger companies have very tight security measures in place. While the pay-off would be large, the chances of getting a pay-off are slim, meaning that many criminals focus on the little guy. While they might not make as much money in a ransom, some money is better than none.

For that reason, no matter how big or small your company is, it is vital that you tighten your IT security and protect your infrastructure against cyber attacks. Some criminal organizations even like to pile up the smaller wins, and then funnel that money into a larger attack on a bigger organization.

Consequences of a Ransomware Attack

At minimum, your company is going to run into these problems if you are attacked:

  • Production will be halted and your company will likely be unable to work for a period of time.
  • Customers might lose their confidence in your ability to protect their personal information.
  • It could cost you thousands or millions of dollars to get your encrypted information back in your hands safely.

You know that feeling when you lose your wallet, or you think you lost your wallet, and how annoying it is to have to replace everything inside your wallet? A ransomware attack is like that x1000.

Connection between Daily Life and your Company

Ransomware attacks affect a great number of people. From the company that is being attacked to the customer who can’t buy a product they need because the website was hacked. If your company is attacked, you also run the risk of losing the trust of your reliable customers. Not only will you feel the pain in an immediate sense during an attack, but the trickle down effect means that you could lose some of your most reliable customers, which will jeopardize your company for years to come.

Any time production is stopped, whether you are selling bread or weapons, your customer base will be impacted. The best way to gain, or regain, the trust of your customers is to show them you have taken steps to protect their online banking information as well as your company’s IT infrastructure. Be proactive in your fight against ransomware attacks, and show your customers how you are keeping things safe and secure.

From the employee on the assembly line to the customer who needs your product tomorrow, there are a host of people that will be impacted if you are lazy with your IT security and end up hacked and attacked. There are measures you can take today to give yourself and your company the best shot at fending off a ransomware attack.

How can you Prevent an Attack?

An ounce of prevention is worth a pound of cure… While taking steps to tighten your IT security might seem painful, they are not as painful as suffering an attack that completely stops production at your company.

Think of it this way – some of these criminals are so skilled at cyber attacks that they have hacked into highly protected government databases and gained access to classified information. The good news is, you have options for help and support. You are not alone on an island. If you have a great bakery, then let yourself have a great bakery. Focus on your strengths, and hire IT experts to help protect your blindside from cyber attacks.

Reach out and contact us today to learn about how we can help protect you from ransomware attacks. Chances are you are an expert in something other than IT security. Focus your efforts on what you are great at, and let us use our expertise to help you fight off cyber attacks and keep your IT infrastructure secure.

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