TechTalk Detroit Ep 24: What is Ransomware? Everything You Need to Know

How to Protect Your Business From Ransomware Attacks

What is Ransomware-Podcast

 

What is Ransomware? (2:10)

According to Microsoft, Ransomware is a type of malware that encrypts files and folders, preventing access to important files. Ransomware attempts to extort money from victims by asking for money, usually in form of cryptocurrencies, in exchange for the decryption key.

Did you know that ransomware cost companies over $75 billion last year. (02:30)

No company is immune to ransomware. No matter the size of your business, ransomware should still be a main concern when it comes to security. Surprisingly, the average ransomware request is about $5,000. (03:30)

What happens when your PC is attacked with ransomware? (04:08)

Shocking Facts About Ransomware (04:50)

  • A new organization will fall victim to ransomware every 14 seconds.
  • By 2021 a new organization will fall victim to ransomware every 11 seconds.
  • 5 million new phishing sites are created every month.
  • Ransomware attacks have increased over 97% over the past 2-years.
  • 75% of infected companies were using up-to-date anti-virus software.

50% of the companies that were surveyed for this survey did not believe their organization was properly prepared to be able to handle a ransomware attack.

Source: cybersecurityventures.com

What are the correct protections to have in place? (05:55)

  • Begin with a thorough analysis of your entire network.
  • Invest in firewall protection. (07:48)
  • Block different countries from accessing your network. (08:05)

Some ransomware prevention best practices include:

If all your preventative measures fail, a backup of your data is crucial for business continuity. Your backup is your #1 tool for combating ransomware.

  • We partner with Datto to protect our client’s business continuity.

Common Ransomware Infection Methods (10:36)

Phishing emails are a major way for businesses to become exposed to ransomware.

  • Make sure to implement email security protections such as MFA and spam protection.
  • Train your users to know the difference between phishing emails and legitimate emails.

Ransomware Data Recovery (12:50)

Having the proper backup solution in place is key,

“If you have to pay for your ransom to get all of your data back,” says Chuck, “that means all of your protections have failed and you didn’t have the appropriate backup in place.”

What to do After a Ransomware Attack (15:27)

 

Ransomware Infographic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check out some of our recent TechTalk Detroit episodes:

TechTalk Detroit EP: 23: Meet Your Hosts: Chuck Lobert & Brian Spurgeon 

TechTalk Detroit EP:22: Microsoft 365 Security Best Practices

TechTalk Detroit EP: 21: 3 Ways to Reduce IT Costs