Today’s businesses are under constant threat from emerging digital threats. Regardless of your industry or organization size – chances are you face significant risks that you may not even be aware of.
However, while the increase in ransomware attacks against businesses each year can be intimidating, proper preparation can keep your organization from the wrong side of a losing battle.
With the right knowledge, tools, and systems in place, you can reduce your risk profile and minimize the long-term damage a ransomware attack can cause your organization.
Be Aware of Early Signs
Security leaders are cognizant of both the severity of a ransomware attack, and how suddenly they can happen. However, in the midst of an attack, while it may seem like the malware appeared out of nowhere, there are usually several clues that appear before an attack is launched.
One of the most common red flags is unusual spikes in network traffic. This might be during off-hours when users are less likely to be online. Monitoring these traffic spikes can be really helpful in identifying potential attacks before they happen.
Another thing to be mindful of is that attacks don’t always focus on the business as an intended target. Your business could be collateral damage from an attack made on one of your third-party vendors. This is why it’s essential to effectively manage your third-party risks and be aware of any recent attacks involving your partners that may have compromised login credentials and sensitive business data.
Contain and Isolate the Attack
The speed at which your business responds during a potential ransomware attack can mean the difference between a small, isolated incident and a company-wide disruption. The sooner you’re able to recognize and address potential attacks, the less likely your business is to experience significant downtime or financial losses.
When you have the right systems in place that can both recognize when an attack is taking place and isolate and quarantine the attack, your response teams have enough time to act and reduce the likelihood of the malware spreading to other critical systems.
Begin a Situation Assessment
After you’ve successfully contained a potential breach, it’s important to assess the situation and document any areas that have been impacted. This will help you understand the full scope of the attack and identify where to prioritize any recovery efforts.
A crucial part of this process is identifying the type of ransomware you’re dealing with. While many ransomware strains work to quickly encrypt company data, an attacker’s goal could be very different from one business to the next.
In some cases, operational disruption may be the primary objective, rather than financial gain. These situations can be much more severe as they often skip the step of requesting a ransom and move directly to database or system corruption.
Know Any Legal and Regulatory Obligations
Understanding and meeting any required legal or regulatory obligations in regards to a ransomware attack is critical. Many industries have strict compliance requirements that organizations need to meet when protecting the integrity of user data.
Oftentimes, when the integrity of user data becomes compromised, such as during a ransomware attack, there may be specific procedures that need to be followed. Companies in some industries may be subject to a compliance framework; reviewing those controls and guidelines can ensure your business has a clear understanding of these requirements while having various safeguards in place to maximize data protection.
Hire Expert Security Specialists
In order to keep your business better protected against new emerging cyber threats, it’s essential to have access to the right tools and expertise. Unfortunately, most companies don’t have the budget or organizational structure to support hiring dedicated security professionals. This is where outsourcing this expertise can be helpful.
Hiring outside security specialists, such as Managed Security Service Providers (MSSPs) or penetration testing services, provides you with on-demand access to the expertise your business needs to implement a proactive cybersecurity plan. They not only can help you identify where vulnerabilities in your business exist so they can be addressed, but can also help you design an effective disaster recovery plan in the event of a ransomware attack.
Understand all Your Options for Recovery
To successfully recover from a ransomware attack, it’s important to know all the available paths to get your systems back to a stable state. The best-case scenario is that your business is making regular backups of your critical applications. This will ensure you can start manual restoration processes right away.
The worst-case scenario is that you don’t have recent backups of your databases, or your backups become compromised during the attack. While some businesses consider the option of paying a ransom in these cases, it’s important to avoid this whenever possible. Paying a ransom won’t guarantee you’re able to get your encrypted data back, and it will only increase the likelihood of being attacked again in the future.
In these situations, it’s best to consult with professional data recovery specialists who can help to weigh options you might have, their overall costs, and their expected timelines for full recovery.
Begin Restoring Your Systems
Once you’ve decided on a path for system recovery, the next step is to put your recovery plans in place. Ideally, you will have already created various procedures that need to be followed during this process, and identified the key stakeholders who should be involved.
Collaborate with both internal and external teams to prioritize recovery workflows, focusing on the most critical systems first. The primary goal should be to get your business at least to a stable state as soon as possible, while secondary systems may take a bit longer to restore. Ensure that any backups you’ve created haven’t been compromised by lingering malware, to prevent your systems from becoming corrupted again immediately.
Don’t Allow Your Business to Become a Victim of Ransomware
Ransomware is a significant cybersecurity risk that every business should be aware of. However, by understanding the potential dangers and implementing preventive measures to protect your company, you can confidently address this and other security challenges as they arise.
Author Bio:
Nazy Fouladirad is President and COO of Tevora, a global leading cybersecurity consultancy. She has dedicated her career to creating a more secure business and online environment for organizations across the country and world. She is passionate about serving her community and acts as a board member for a local nonprofit organization.
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