Ransomware is big business
According to a recent report carried out for the Information Commissioner’s Office the percentage of cyberattacks that comprised of ransomware were double that of the same period in 2020.
Criminal gangs effectively employ affiliates who receive a percentage of ransomware payments where they’ve been involved; a highly lucrative occupation for those that lack a conscience. Keep in mind that these individuals are extremely intelligent and will use any tactics at their disposal to carry out a successful cyberattack. It’s therefore essential that we protect our businesses with layers of security, making it as difficult for hackers to infiltrate as possible.
Hackers will find any way in
When the largest oil supply pipeline in the US was taken down by a ransomware attack, it’s widely recognised that this was due to a single compromised password! Multi Factor Authentication would have helped to guard against this. Yes, it would have taken a little bit of time and money to ensure MFA was in place, but this pales in comparison to the $2.1m that was lost to criminals.
Nip it in the bud
Make sure a plan is in place, should an attack occur. When IT business Kaseya was hacked they minimised damaged by immediately initiating their incident plan. They didn’t bury their heads in the sand, but instead addressed the attack head on. Their reputation was damaged, but it was also widely accepted that they did their very best to protect as much of their customers’ data as they could. This attack came in via a weakness in their supply chain – make sure your suppliers have stringent cyber security in place.
No one is safe
As we’ve reported on recently, cybercriminals rarely have scruples and will attack schools and hospitals if they think there’s money to be had. Even when ransoms aren’t paid, the costs of rectifying attacks can be extreme; Ireland’s Health Service is facing costs of €100-€500m.
Costs of cyber security are minimal in comparison to ransomware payments, and they can be budgeted for.
Regrettably, even large organisations neglect to see cyber security as a vital expense. Yes, it’s very sad that budget needs to be put aside for this, but we wouldn’t leave our doors without locks, our businesses uninsured or our fire extinguishers broken. Cyber security does not need to break the bank. Net Primates provide Office 365 Enhanced Security at a very competitive price. You’ll receive the Office 365 suite PLUS additional layers of essential cyber security.
We put cyber security at the heart of our IT provision. If you’re unclear about how much security you have in place, and would like advice on staying safe, please do ask us for help.