Defence Against Ransomware: Where Businesses Should Be Standing

Not a week goes by when the business world does not see fresh attacks of newer instances of ransomware in every sector. As far as cybersecurity, it is one of the longest and most persistent hurdles to stay updated on, with newer and more sophisticated attacks many steps ahead of the required defences.

Ransomware has paralyzed many operations within medium to large corporations and organizations, sapping off vital resources and causing considerable damage to crucial information. That is before you factor in the often considerable economic loss and lawful issue around regulatory standards not being adhered to.

In 2024, it is vital for businesses and organizations in every sector to step up their protective measures and have ransomware recovery plans in place.

Not an Option Anymore

2024 can either be a year of further damage or recovery for businesses in the UK. The ones who stand to be on the recovery side are those who begin to comprehend the growing risk ransomware has on their future.

On a global scale, ransomware dominated the landscape, with a 95% increase in 2023. That is not something that occurred within one quarter of the year – it was widespread throughout. That means that this is a consistent problem and is here to stay. True, the average majority of ransoms demanded on businesses were around $100k, but larger companies found their ransomware demands within the millions. With that kind of ransom, it is easy to see why so many hackers and threat actors are keen to jump into the action, with so many businesses ill-equipped to combat the threat. It is a goldmine with a clear entry point and a pickaxe provided by the companies themselves.

Action to Take Today

If your company has not taken preventive measures to safeguard against ransomware, we have to ask what is the breaking point that will finally instigate what is required.

Businesses need to develop an efficient defence by understanding the threats they face, including potential gaps within the industry, the number of people involved in key decisions, and the data that the company possess. ISO Audits and SOC Auditshare are great ways to assist in identifying risks and forming a basis for a strong cybersecurity culture for the company.

Anyone working with data within your company needs to have a strong knowledge of the threats of ransomware, with specific training on detection and reporting before they reach a level that can cause company harm. Every area from phishing emails to software updates must be covered within this new training.

For more information on enterprise security and any future cybersecurity conference, check out the upcoming events from Whitehall Media.