Using IT Security to Mitigate the Costs of Ransomware
Ever since we have had widespread use of computers, we have had people trying to exploit users using viruses and other malware. One common type of malicious software is ransomware, which is designed to block the user’s access to a computer system until they are paid a sum of money.
This started off as a relatively small-scale issue, but hackers have now figured out ways to hit financial markets with this ransomware.
When ransomware is used, hackers can gain access to:
- Phone numbers
- Other customer information
Cyber crime is a major problem, and is expected to get worse as the difference in terms of technological expertise widens. What this is means is you have many hackers with a huge amount of expertise, and governments with not nearly the same ability to play defense to these hackers.
The scale of these attacks has increased because major financial institutions serve as honey pots to these hackers, and they are incentivized to invest more resources in order to gain the information of many people at one time.
Using Cyber Security to Improve Ransomware Security
By implementing proper IT security, it becomes possible to manage the risk associated with ransomware. Every company which holds its customers’ information has a huge potential liability should that information be compromised.
A cyber security strategy can help to protect your company in a number of ways including:
- Enforcing strict password policies, requiring a mixture of letters, numbers and special characters makes it more difficult for hackers to break in via the front door
- Control internet access, by blocking access to suspicious sites and maintaining a list of sites that other companies have flagged as inappropriate
- Prevent external hardware use, like USB drives, this makes it easier to control how files enter and exit your network
- Firewalls and intrusion detection make it more difficult for hackers to break in via more unscrupulous methods
Invest in IT Ransomeware Security
IT security can help make sure that ransomware doesn’t hurt your company in an irreparable manner. The trust you have built with your customers is important and you want to do everything you can to maintain that.
Cyber crime will always be a reality in the world we live in, but it doesn’t have to be a constant threat to your company. The two best things you can do to prevent the effects of ransomware are:
- Implement comprehensive IT security to prevent massive ransomware cost
- Train your employees to make the correct decisions in risky situations
By following through on these two steps, you can increase your cyber security and save your company a ton of money and time as the potential cost of ransomeware damage is incalculable. This may seem like a hassle now, but as you watch more and more players become compromised, you are going to be happy you took the time to invest in yourself.