The moment that we think that we know everything about cyber attacks and we think that we are protected against these attacks, there is something new to worry about. Since last year ransomware is something that business owners and IT executives need to worry about.

This is a serious problem that can cause any business to go bankrupt or to lose a lot of money. And, this is actually a smart move from the cybercriminals. To ensure that this isn’t something that happens to you, you need to know more about ransomware and what the most difficult choices are when you are under this type of cyber attack.


Understanding ransomware

Firstly, you must know what ransomware is. Studies have shown that more than 70% of online businesses have been victims of ransomware. This is basically a software like malware software that is getting installed remotely onto your computer. Taking all your information, client’s information, and everything essential to run your business “hostage”.

You as a business owner will need to pay a ransom for the information to be cleared again and for you to have full access to your computer systems again. Once your computer is under a ransomware attack, there is nothing that you can do about it. Costing businesses millions of dollars each year.

Why is this starting to become a serious problem for business owners?

This is a serious problem that is getting worse by the day. Because ransomware is getting popular among cybercriminals for making a quick buck. These criminals are getting smart in installing the ransomware onto business computers. Causing a complete standstill in these businesses.

This is an attack that is anonymous and can’t normally be traced. Causing a lot of problems. Those businesses that are still new or that struggles financially can be completely ruined and might even need to close down. A tendency that is on the rise for any small business owners, banks, and other companies.

What are the choices that the business owners and IT executives face with ransomware?

For a business owner or IT executive that is under a ransomware attack, there are just one of two choices. Pay the ransom to get your systems up and running again, or lose everything you have worked hard for.

We always advise never to pay the ransom. But, if you do decide to pay the ransom, be aware that there is no guarantee that the hackers will give you the proper encryption keys to get you back up and running again. But, what if you do not pay, whether by choice or the business doesn’t have the money to pay for the ransom? This situation has caused many businesses to go bankrupt. It is a tough choice that will ruin a business, no matter what option you choose.

How can this be prevented?

The good news is that ransomware can be prevented. Especially if you are aware of this cyberattack and you know the seriousness about it. Installing the best ransomware protection on your systems. This is something that any business and IT specialist should install on their systems.

The moment that you have this type of protection installed, our Security Operations Center (SOC) will protect your business against these types of attacks. Our SOC will warn you that there is an attempt of ransomware software installation onto your system. And, that we have blocked threat; the installation and ransomware immediately.

The one thing that every business owner and IT executive fears, is becoming a victim of a ransomware attack. That they need to pay a huge ransom for getting access to their systems back or to lose everything they have worked on. A choice that is hard to make for any business owner. With the right planning and prevention, this is a decision that you will never need to make.