Ransomware on the Rise in Wake of COVID-19

June 15, 2021

The threat of cyberattacks - specifically ransomware attacks - is rising according to Homeland Security Secretary Alejandro Mayorkas, who noted that there has been an uptick in the number of reported attacks on government agencies, critical infrastructure firms, and even small businesses. He cautions that this threat presents a broader-reaching issue, as more and more organizations are beginning to develop a dependence on internet connectivity.

Ransomware is a form of cyberattack that uses encryption to protect data from being viewed by authorized users without a password or other authentication. When your files are encrypted the only way to unlock them is through a special software program that unlocks the data for you and requires a ransom — typically in the form of a cryptocurrency or information proprietary to the company being attacked. The attack can also be carried out through several other techniques, including social engineering or through seeding a device with malware.

Mayorkas urged that "The threat is real. The threat is upon us. The risk is to all of us," during the U.S. Chamber of Commerce's Now + Next speaker series. Secretary Mayorkas also stated the $350 million was paid out to hackers for ransomware attacks in 2020 alone.

Now more than ever it is vitally important to keep your company safe. Here are some actionable tips to keep your business safe and secure:

Regularly backup your data, system images, and configurations, while frequently testing your backups.

If you backup your data regularly, recovery after data loss will be a breeze. This ensures minimal downtime and no permanent loss of important data.

Utilize multi-factor authentication (MFA) whenever possible.

The more steps you add to when you log in to a software or service, the more difficult it will be for hackers to potentially steal your information. It is a very simple step that anyone can do to drastically increase your account security, especially since most websites, apps, and services now offer MFA.

Update and patch systems regularly.

Although they can sometimes be annoying, system updates and patches can ultimately help protect your data. There are ever-emerging security flaws and software vulnerabilities with almost every piece of software we use, and developers are constantly fixing, revising, and improving security through updates and patches.

Review and practice your incident response plan.

Do you know what to do if hackers attack your business? When was the last time you assessed your IT infrastructure security needs? Attacks are only becoming more common and today is the best time to start taking steps to protect yourself. CDS can not only create, form, and implement an incident response plan, but we can manage all of your IT needs to provide proactive service to prevent attacks before they happen. Through our Managed-IT services, we  minimize downtime and data loss while giving you peace of mind. Click below to schedule a free IT consultation.

Schedule a free IT consolation today! Click here to find out how.

Ransomware is just one of many forms of cyberattacks hackers are utilizing today to steal data of small businesses around the world. Get out in front of the threats and protect your business before it's too late.

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