Why Ransomware Attacks are a Big Problem For Small Businesses

Editorial Team

Why Ransomware Attacks are a Big Problem For Small Businesses

Many small business owners are devastated when they log into their computers only to realize that criminals have taken hostage all their important files. These companies have to pay some money or lose their data forever. A ransomware attack looks like a television drama for some people, but it is a significant problem for organizations. Small businesses around the world are under attack. If you are a small business owner, you cannot afford to deal with a ransomware issue.

A Ransomware Attack Should Alarm Your Small Business

The modern trends of making online payments, storing data in the cloud, or performing business operations have become common in many parts of the world. These activities have led to an increase in cybercrimes.

Many hackers have created their wealth by getting through small business cyber defenses. With millions of businesses operating online, the hackers have numerous victims.

Several years ago, the criminals targeted large entities such as hospitals, governments, and universities. The hackers did this because they knew that these institutions would become paralyzed after a ransomware attack. These organizations had the money to pay these ransoms. The large organization is aware of the attacks, and they have put in place suitable security measures.

Small businesses have become significant targets because they are easy prey. These small organizations do not have the security to deal with the attacks. Most of them do not have the training to handle and prevent attacks.

Companies storing data, working online, or using computers are at a high risk of a ransomware attack.

What To Do When Your Small Business Is Attacked

After learning that your business is under attack, follow these simple steps to reduce costs and damages;

Quarantine The Machine Affected

The only way to ensure the ransomware does not spread is to isolate the infected system or computer. Turn off the machine and ensure it is not connected to the network. The hackers won’t tell you about their attack. The attack might be on several computers. Carefully check all the devices and isolate the affected ones.

Get Rid Of The Malware And Look Out For Any Security Weakness

Regardless of your decision to control the problem, you need to handle the infection. Ensure it does not spread. Some people might decide to abandon the data stolen, but they must contain the problem. Informing the FBI and local enforcement is essential too.

When you get rid of the malware, change all passwords. When changing the passwords, find out why the attack happened so that it doesn’t happen in the future.

Inform Customers And Employees

Talk to your employees when you realize a ransomware attack has happened. If your customers are affected by the downtime system, inform them immediately. The customers should know why they have issues and when your company will be back to normal operations.

Inform Your Insurance Agent

Businesses with cyber-liability insurance should inform their insurance agents immediately after the attack. These professionals will help you respond to the attack.

Plan Your Response

When all the essential people in the business are aware of the ransomware attack, you can decide what to do. You can choose to regain access, restore the data, abandon the data or pay the ransom.