Businesses are increasingly being targeted by ransomware. Cybercriminals use this type of malware to freeze your computers and mobile devices, steal your data, and demand a ransom ranging from a few thousand to millions of dollars. They can infiltrate enterprise networks and servers, resulting in the loss of critical information and data. In addition to disrupting critical IT operations and applications, the average cost of ransomware recovery is a staggering $2 million. Fortunately, there are practical ways to safeguard your business data against ransomware, including the following.
Perform regular monitoring and patching
It is crucial to keep an eye on your external digital attack surface, which includes all the potential ports of entry into your network, such as IP addresses, port numbers, settings, and applications, to safeguard against ransomware attacks. Furthermore, it is also important to monitor the network's internal activity, as ransomware attacks can still be detected and mitigated even if the initial line of defense is secure.
Regular and timely software patching is essential to address any vulnerabilities before malicious actors can exploit them. This should include all in-house and third-party programs, firmware on networked devices, and operating systems on endpoint workstations.
Employ a data backup and recovery plan
There has been a lot of debate about whether data backup and recovery is still an effective protective tool against double extortion ransomware attacks. The argument is that if attackers exfiltrate your data before encrypting the files, then having a backup becomes pointless. However, it is important to note that many ransomware attacks still occur without data exfiltration. Having a backup ensures that data can be quickly retrieved without engaging in negotiations about ransom payments, thereby minimizing disruptions.
Educate your employees
Many organizations still have significant gaps in cybersecurity education, leaving them vulnerable to ransomware attacks. Therefore, businesses need to prioritize more effective and strategic cybersecurity education that caters to how people can address this. A managed training platform like https://selacloud.com/ can help bridge these gaps by providing engaging, relevant, and repetitive training to employees without any risk of boredom.
User account management is important
Intrusion into networks through compromised credentials is a major concern, especially due to the lack of cybersecurity education in many organizations. However, poor user account management can exacerbate the situation once hackers gain access to the network. Inadequate user account management leads to accounts with excessive privileges, making it easier for hackers to exploit these privileges and spread ransomware across multiple systems. This lateral movement across systems can lead to significant damage to a business's critical data and information.
Implement network segmentation
It's worth noting that network segmentation is a great strategy to enhance the security of your IT network. This technique involves dividing your network into smaller sub-networks and restricting the flow of traffic between different zones. By doing so, network segmentation limits the attack surface that cybercriminals can exploit. Additionally, it prevents lateral movement between zones, even if a hacker bypasses your perimeter. This ultimately safeguards your endpoints from being encrypted and ensures the security of your network.