Jasmit Sagoo, senior director, Head of Technology UK&I, Veritas, explains how to best prepare for a ransomware attack with 5 key steps.
Ransomware has grown into the most persistent and pernicious security challenge facing organisations. It is the single most common malware threat reported and costs victims $133,000 a year on average. Yet due to underreporting and concerns for company reputation, this is likely only the tip of the iceberg.
Giving in and paying up is the worst approach you can take. Once you have shown the attacker you are willing to pay the ransom, they are guaranteed to come again and slowly but surely turn your business into their recurrent revenue stream. It’s the equivalent of painting a target on your back.
Good data practice is ultimately the best defence against ransomware. A strong data management strategy not only makes a successful attack less likely, it ensures you can recover should an attack breach your perimeter, and without paying the attacker’s fee.
A strong data management plan for ransomware has two crucial components. Firstly, a culture that encourages data responsibility. Secondly, a comprehensive data backup plan. Culture bolsters your defences while backups allow you to recover quickly and cheaply from an attack.
Also of interest: To pay or not to pay? Ethics and best practices when dealing with ransomware demands