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Why Business Owners Need to Know About Ransomware

Published August 09, 2021

Why Business Owners Need to Know About Ransomware

Americans don’t negotiate with terrorists. Or, do they?

Experts say more than one-quarter (27%) of ransomware victims end up paying up to get their data back. The reason why is obvious — businesses can’t operate without their data.

You’re here because you want to help your business avoid the same fate. Your journey begins by asking questions like — what is ransomware? How can I protect my business?

Wonder no longer. Read on to learn everything you need to know to stay safe in 2021.

What is Ransomware?

So, what exactly is ransomware? Ransomware threats are a form of malware. First, the program invades one of your business’s computers. Then, it scoops up all your business’s files and data. All the information is then encrypted by a nefarious cyber criminal.

Once this process is complete, your business will receive communication from the hacker. They’ll let you know that they have your data. They won’t leave you there, though.

They’ll offer you a solution in the form of a decryption key. To get that key, though, you’ll often have to pay the criminal.

Like we explained above, many businesses don’t have any options once they’re attacked. They end up paying the hacker’s ransom. Experts think these types of attacks will cost businesses up to $20 billion this year.

Why Your Business Needs Ransomware Awareness

Ransomware is one of the biggest cyber security threats businesses face in 2021. You and your employees need to be aware of this threat.

If you don’t get informed, then you’re running the risk of getting targeted.

Do you think your business isn’t big enough or profitable enough to get targeted? Think again! In 2018, small businesses were the target of 71% of ransomware attacks.

Cyber criminals target businesses of all sizes. They’re more likely to see you as vulnerable if you don’t have a lot of resources to devote to security.

How to Protect Your Business From Ransomware

So, how can you protect your business from ransomware? As hinted at above, your first step is promoting awareness in your business. Educate your staff about the best internet practices. Ensure your staff understands:

  • How to create a good password
  • Not to login to work databases on public WiFi networks
  • Never to click an e-mail attachment unless they’re sure of the source
  • Avoid suspicious websites

Next, you’ll want to secure your business’s devices. Installing good malware protection is a huge advantage. Finally, secure your data by creating backups on a regular basis.

Ransomware in 2021 and Beyond

So, what is ransomware? These nasty malware programs steal and encrypt your data. Then, criminals will demand you pay them a fee to get access again. No business wants to negotiate with cyber criminals. Despite that, your data is likely irreplaceable.

With that in mind, it’s in your best interests to protect your business from ransomware. Your best line of defense starts with some offense. Are you ready to get started?

Pegasus Technologies can help. Reach out to our experts on our online form now to talk about your business’s cyber needs.

Pegasus Technologies is the IT Team for organizations that don’t need a full-time IT department. Our technology experts build you a technology plan to keep your business running at its best. We have offices in Kennett Square, PA, Media, PA, and Wayne, PA to provide better computer support and IT services to you.

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Erik Gudmundson
info@pegtec.com

Erik Gudmundson is an experienced leader in the field of IT service delivery. He is responsible for designing, proposing, implementing, and supporting cloud, on-premise, and hybrid IT solutions in computer-dependent business environments. As a trusted advisor to his clients, he communicates solutions and pitfalls/workarounds effectively.