<div dir="ltr"><div dir="ltr"><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><a href="https://www.techrepublic.com/article/how-smbs-can-minimize-damage-from-ransomware-attacks/">https://www.techrepublic.com/article/how-smbs-can-minimize-damage-from-ransomware-attacks/</a></div><div dir="ltr"><br></div><div dir="ltr">There has been a lot written about how businesses can avoid being
digitally defrauded by ransomware. "A ransomware infection often starts
with someone clicking on what looks like an innocent attachment, and it
can be a headache for companies of all sizes if vital files and
documents (think spreadsheets and invoices) are suddenly encrypted and
inaccessible," writes ZDNet's Danny Palmer in the article <a href="https://www.zdnet.com/article/ransomware-an-executive-guide-to-one-of-the-biggest-menaces-on-the-web/" target="_blank" rel="noopener noreferrer">What is ransomware? Everything you need to know about one of the biggest menaces on the web</a>.
He adds: "If you are attacked with file-encrypting ransomware,
criminals will then brazenly announce they're holding your corporate
data hostage until you pay a ransom in order to get it back."</div><div dir="ltr"><br></div><div dir="ltr">Even with all the warnings, the success of ransomware is unparalleled,
and to make matters worse, digital fraudsters are now targeting smaller
businesses, which typically do not have sufficient resources to even
begin to combat ransomware. The cost is frightening. This <a href="https://cdn.riskiq.com/wp-content/uploads/2018/08/Evil-Internet-Minute-RiskIQ-Infographic.pdf?_ga=2.38126179.1928803402.1534880854-1959478491.1534880854" target="_blank" rel="noopener noreferrer">RiskIQ infographic</a> states that ransomware costs businesses $8 billion a year.</div><div dir="ltr"><br></div><div dir="ltr"><p> As to how ransomware is affecting smaller businesses, Datto, an
organization that pairs small businesses with managed-service providers
(MSPs), surveyed 1,700 MSPs that work with a combined 100,000 Small and
Medium-sized Businesses (SMBs) and posted their findings in the paper <a href="https://www.datto.com/resources/ch-ransomware-survey-17?utm_campaign=ch-ransomware-survey-17&utm_medium=press-release&utm_source=13" target="_blank" rel="noopener noreferrer">Global State of the Channel Ransomware Report</a>.
The paper begins by mentioning that 99% of the survey participants
agree the number of ransomware attacks will continue to increase. Next,
Robert Gibbons, chief technology officer at Datto, states that
approximately 75% of the MSPs queried said their SMB customers
experienced "business-threatening" downtime as a result of a ransomware
attack. That is a rather bleak outlook.</p><h2><strong>To pay or not to pay?</strong></h2>
<div class="gmail-sharethrough-article">
</div><p>In TechRepublic contributing writer Jesus Vigo's post <a href="https://www.techrepublic.com/article/should-you-pay-to-get-your-data-back-or-not-the-ransomware-debate/">The ransomware debate: Should you pay to get your data back?</a>,
looks at whether it makes sense to pay the ransom or cut losses and get
up and running as soon as possible. "It's clear that both camps can
cite a variety of reasons to support the decisions they make," concludes
Vigo. "I feel, personally, that it isn't so black and white, and that
each scenario should be addressed based on the circumstances rather than
choosing an answer based on a preset plan."</p>
<p> Vigo looked at the plusses and minuses of ransom payment a little
more than a year ago. Due to what's at stake, it seems appropriate to
revisit this debate. According to Datto's Gibbons, "The impact of
downtime affects SMBs far more than the cost of ransom requests."</p><p>
So, it's not surprising that business owners who want to regain
control of their data and infrastructure as quickly as possible are
willing to pay the ransom even though the odds are against them. Reports
from various security research firms (including <a href="https://businessinsights.bitdefender.com/research-more-smbs-are-reporting-ransomware-attacks-to-authorities-but-less-are-paying-the-ransom" target="_blank" rel="noopener noreferrer">Bitdefender</a> and <a href="https://cyber-edge.com/cdr/#about-this-report" target="_blank" rel="noopener noreferrer">CyberEdge</a>) state that between 45% and 55% of businesses that pay the ransom are unable to recover their data.</p><h2><strong>Not so fast</strong></h2><p> The typical talking line for
security experts is to never pay a ransom; however, that's easy for them
to say—they're not the ones who have to make that painful decision.
Still, those who are facing that decision are now more likely to say no
to ransom demands.</p><p><a href="http://cyber-edge.com/cdr/" target="_blank" rel="noopener noreferrer">CyberEdgeGroup's 2018 Cyberthreat Defense Report</a>
stated that of the 1,200 IT professionals surveyed, 55% experienced a
ransomware attack; of the 55%, only 19% paid the ransom. The report also
mentions those who refused to pay the ransom had backups allowing them
to quickly recover and get back to business as usual.</p><h2><strong>Are backups the answer?</strong></h2><p> A bulletproof backup system seems to be the answer, as loss of data is the most pressing issue according to <a href="https://www.healthcare-informatics.com/news-item/cybersecurity/survey-42-percent-companies-have-experienced-ransomware-attacks" target="_blank" rel="noopener noreferrer">companies surveyed by Radware</a>.
"Businesses are most concerned with their data when hit with a
cyber-attack," mentions the report. "Respondents noted that data leakage
was their top business concern, followed by reputation loss and service
outages."</p><p> Besides being unable to function normally due to lost data, business owners have additional concerns:</p><ul><li>Getting
data back is no indication the information has not been used by the
attackers, sold to competitors, or made public with the intention of
embarrassing the company.</li><li>Losing data—sensitive or otherwise—may mean the company is out of compliance with industry and/or governmental regulations.</li><li>"Paying
a hacker in these situations not only incentivizes further attacks, but
it provides criminals with the funds they need to continue their
operations," said Carl Herberger, vice president of security solutions
at Radware.</li></ul><h2><strong>Prepare for the inevitable</strong></h2><p>
There is a watershed movement occurring—cybersecurity professionals
are changing their focus from prevention to recovery. Prevention is not
the be-all and end-all answer, so why not be as prepared as possible to
recover from the inevitable cybersecurity incident?</p><p> "There are
no guarantees in life, but there are things that individuals can do to
minimize the risk of being infected with ransomware," explains this <a href="https://fraudwatchinternational.com/malware/ransomware-protection-security-essentials/" target="_blank" rel="noopener noreferrer">FraudWatch International post</a>.
"In the event that someone is infected with ransomware, they can also
take steps to minimize the impact and damage the attack will cause."</p><div><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><b><span style="font-size:10pt"></span></b><span style="font-size:10pt"></span><span style="font-family:arial,helvetica,sans-serif"></span><br></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>