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It increases the number of payments — Ransomware groups often ask for a second payment : The first gets a victim company decryption keys ; the second ensures that confidential data isn ’ t released .
It helps attackers thrive — Paying the ransom gives hacker groups additional funds to conduct future attacks .
the best defense is a good offense
A variety of IT security best practices can increase the chances that a company doesn ’ t have to make this difficult decision . It ’ s important to employ a multi-layered approach that includes end-point monitoring , employee IT security awareness training , regular patching and updating of systems , and ensuring that data backups are current and viable .
It ’ s essential that companies develop a written IT security program and incident response plan . After preparing the plan , it ’ s important to study the guidelines and keep it in hard copy in case an attack prevents access to online resources .
Individuals in an organization can play an important role in preventing ransomware infections by being aware of phishing attacks , not accessing pirated content , and being cautious about applications designed for mobile devices .
cyber insurance provides protection
Of course , even the best cyber security can ’ t guarantee that a business won ’ t experience a cyber attack . And many small business owners find themselves overwhelmed when their data is hijacked and held for ransom .
That ’ s why cyber insurance is another important tool to protect any commercial organization .
The consultants investigate the ransomware strain , predict the potential of obtaining viable decryption keys , negotiate to reduce the amount of the ransom , and facilitate payment in cryptocurrency . They also conduct Office of Foreign Assets Control ( OFAC ) due diligence on the payee and report the payment to law enforcement authorities .
In addition to covering the unexpected costs and business interruption that can result from a ransomware attack , a broad cyber policy can provide access to professional consultants who take control of the situation . these tactics can help keep organizations from being damaged by a ransomware attack :
• back up data frequently — Use media that aren ’ t connected to the internet , such as tape backups and removable drives . Attackers can encrypt backups on a network or in the cloud . The safest , most effective plan is to have multiple backups isolated from the network .
• use a secure email gateway — This appliance or software service protects from spam , viruses , malware , and denial of service . The gateway scans incoming , outbound , and internal emails , including attachments and URLs , for malicious or harmful content .
• remote desktop protocol ( rdp ) — This tool is distributed with Microsoft operating systems to allow one device to remotely connect to another . Set firewalls to limit access to RDP ports and restrict users to those who need access .
• configure cloud services to proper settings — If you can ’ t find information to secure cloud data on your cloud provider ’ s website , it ’ s well worth it to invest in advice from a cyber security consultant .
• install patches and software updates
— For software updates that can ’ t be set up automatically , establish a schedule for updating . If you don ’ t install patches or updates due to legacy system issues , consider doing so . so , should you pay the ransom ?
The decision is yours , but HSB Total Cyber insurance is here to help when you need them .
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