Ransomware and SMEsOrhan Sari
Ransomware attacks have increased the capacity to infect companies every day. It is estimated that the average ransom demand is $84,000 today and 1 in 3 companies pay the ransom today.
1 in 2 organizations was attacked by ransomware in 2019 and attackers succeeded in encrypting the data in 73% of these attacks.
1- Why were SMEs Targeted by Ransomware Attacks?
Today, Ransomware attacks are not only directed against large corporations but also against small and medium-sized companies (SMEs). Many SMEs are vulnerable to ransomware attacks. Because small businesses are spending less on cyber security software and staff training. Thus, they have been an easy target for cybercriminals. Moreover, many small businesses are underestimating the possible threat of ransomware, assuming they are too small to be on the attack.
2 in 1 SMEs have been attacked by Ransomware and a majority of SMEs (73%) are paying up to get their data back. According to a new survey of senior executives, 46% of all small businesses have been the targets of a ransomware attack.
2- SMEs are Easy Targets for Criminals
When cyber criminals are attacking small businesses, they demand less ransom than they do to big companies. Therefore SMEs are prone to pay the ransom quickly than big companies. However, many of the SMEs have been an attractive target for cyber criminals because they do not have the appropriate technology and infrastructure to detect ransomware attacks or viruses. The availability of small businesses to make payments has triggered numerous attacks on small firms. Because it is easier for cyber criminals to attack small businesses and get small sums of money, instead of getting big sums from large corporations those are reluctant to pay the ransom.
It is important to note that cyber criminals attack any company whenever they feel they can infiltrate in. In this context, all businesses, including SMEs, should take the necessary precautions to protect their sensitive information against ransomware attacks. Because the cyber criminals can destroy data, despite ransom is paid.
Therefore, like other big companies, SMEs should also take basic security measures. SMEs can protect their organization against Ransomware attacks and other malicious software if they take precautions early.
3- How to Protect yourself Against Ransomware Attacks
- Establish regular and reliable backup procedures
- Configure firewalls
- Perform Penetration Tests
- Run an email gap analysis
- Keep all networks and systems up-to-date
- Keep the employees aware of the cyber attacks using the best cybersecurity awareness training tools
- Also, check our blog on how to protect against ransomware
Editor’s note: This blog is updated on 07/08/2020