Risk & Business Magazine Cal LeGrow Risk & Business Magazine Fall 2017 | Page 7

RANSOMWARE any sympathy for your predicament. You should have had a better backup, you think. If you can’t keep your data secure, then what can your business be trusted to do? ARE YOU A SITTING DUCK? Far too often, this is how we at PC & Networking Solutions meet a new customer. Is this how we are going to meet you? We have been securing information technology (IT) for businesses for twenty- four years. The ominous increase in ransomware and the subsequent damage it causes to businesses in Newfoundland and Labrador have made it the number one threat to your network and your business. The story we hear is always the same: “Occasionally a virus would slow something down, but the computer guy we always use would scan it and all would be fine again.” “Spam was a nuisance, but nothing more.” These familiar circumstances have bred complacency, leading to disaster. None of this should happen to you and your business, but business owners and managers need to understand what the threat is and why it has become a problem. WHAT IS THE RANSOMWARE THREAT? Unlike viruses that years ago would just wreak havoc with your computer, ransomware is a particular type of virus that makes its creators some serious money. Consider that about CAD 1 billion in ransoms was paid worldwide in 2016. This money pays for some very talented but malicious programmers to make these viruses even more dangerous to your business. Conversely, very few businesses in this province have changed how their networks are protected. They are all vulnerable. While employees probably have new monitors on their desks and the latest smartphones, few companies have put money into a new firewall or have reviewed and tested their data backup. nasty coming in from the Internet. A good one will cost as much as a new computer, and the security services that make it effective against ransomware will be an annual cost. If you aren’t paying for a firewall, then you have left yourself open to cyber threats and without the most effective and economical defence around. If you feel you are behind on improvements to your company’s network security, chances are you will eventually have the opportunity to contribute to that growing ransom total. “IF YOU CAN’T KEEP YOUR DATA SECURE, THEN WHAT CAN YOUR BUSINESS BE TRUSTED TO DO?” MAKE YOUR BUSINESS SECURE AND KEEP IT PROTECTED Your insurance provider can recommend coverage to protect you from the financial impact of ransomware. When you look at the costs you may incur with a ransomware attack, though, it’s clear that prevention is key. You can start by recognising how your business is vulnerable and by implementing some critical measures. Think about these four steps: 1. Assess your risk • Consider the value of accounting data, email, or appointment-booking information. How long could your business function without any or all of these? What would be the cost to recover it? This answer should give you an idea of the scope of protection you need. 2. Secure the perimeter • 3. Ensure reliable backups • A good data backup is not a difficult thing to implement. It should run every night, even if the Internet is down, and be stored offsite immediately thereafter. A dependable backup can be paid for on a monthly basis. If you aren’t paying for your backup to be managed and monitored, then there’s a good chance it won’t work when you need it the most. 4. Surround yourself with good people • Finally, you should work with someone who knows your business and how to protect it. Good IT management keeps your network secure and your business protected. It is not just about replacing computers; it’s about making sure the right measures are in place and the best practices of the industry are followed. BE SECURED, BE PREPARED Once you address the ransomware threat, your network will become more reliable, your IT costs more predictable, and the scenario described at the beginning of this article will be someone else’s nightmare. However, if you do find yourself the target of ransomware, do not make any ransom payment before speaking with someone who has dealt with such attacks. There may be options available to you. + A firewall is the best protection for your business from anything Jon Seary is the owner of PC & Network Solutions (PCNS) and also serves as the IT Manager for a number of its clients. PCNS provides reliable and right-sized solutions for business IT, including data storage and protection, ne twork security, managed e-mail, and wi-fi services. You can reach Jon at 709.895.3560 or [email protected]. 7