This post is part of a series sponsored by TSIB.
According to IBM’s 2023 Cost of Data Breach Report, the average cost of a data breach to a business will be $4.5 million By 2023, Statista will 317M In 2023, ransomware attacks occurred around the world.
Unfortunately, ransomware attacks are on the rise across all industries, providing an easy way for cybercriminals to make money. There are many types of ransomware. MalwareMalicious software designed to cause harm, most commonly ransomware.
Ransomware is a specific type of malware that blocks access to data and software. For company owners, this can be quite worrying, especially if there is the added threat of exposing their data.
To regain access to your data, you must pay a ransom, although there is no guarantee that your information will be restored even after paying the ransom.
Ransomware attacks occur frequently, so you should always be aware of what’s popping up on your computer. Via emailIt’s important to take a moment to verify the sender of the email. Once you verify that the sender is legitimate, it is safe to click on any links or attachments in the email. Downloading attachments from unknown senders is how ransomware gets onto your computer.
Additional practices you can adopt include:
- Use strong passwords
- Enable multi-factor authentication
- Do not use automatic login
One way to minimize the risk of ransomware is to Back up your information Back up to another computer server or application to create a replica of your data. Backups should be stored offline to avoid attacks. The more times you back up your information, the better. This way, if your company is attacked, your information will be accessible. However, it is important to test your backups regularly, as your data can become infected with ransomware and infect your backups. The good news is that if your data is infected, you can often get previous file versions.
These cyber attacks have increased the need for cyber insurance. If your company doesn’t have cyber insurance, now is the time to get it. Protect your company from ransomware attacks and minimize your overall company risk. The internet can be a scary place. But protecting your data doesn’t have to be. Contact the TSIB Contact us to discuss the best cyber insurance for your business.
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