What is ransomware?

Ransomware attacks have grown in prevalence and complexity, posing a serious danger to both individuals and organizations. This form of malware encrypts a victim’s data and demands a ransom in exchange for the decryption key, resulting in severe disruptions, financial harm, and potential exposure of sensitive information.

Who is most at risk of an attack?

Ransomware attacks have become more common and sophisticated as cybercriminals have realized the high returns that can be generated through these types of attacks. According to a recent report, the average ransom payment increased by 82% in the first quarter of 2021 compared to the same period the previous year. Ransomware attacks target every type of business: small businesses, healthcare organizations, educational institutions, and government agencies. They seek the sensitive data these entities hold and they exploit the organizations inefficiency in maintaining security system updates.

How can businesses protect themselves?

Ransomware attacks are successful due to a lack of preparedness. Organizations often fail to implement basic security measures. They don’t continuously back_up their data and regularly and don’t apply software updates and patches as soon as they are released. Additionally, social engineering attacks, such as phishing, can be highly effective in tricking employees into installing malware on their devices.

To defend against ransomware attacks, organizations must take a proactive approach to cybersecurity. This includes implementing robust security measures, such as backup and disaster recovery solutions, employee education and training, and regular software updates and patch management. It’s also important for organizations to regularly review and update their security policies and procedures and business continuity plans to ensure that they are adequately prepared for a ransomware attack.

How LT Auditor+ helps your organization protect against ransomware attacks?

LT Auditor+ is the IT Security Audit and Compliance Automation Software that efficiently enables your business to assess, monitor and audit your IT infrastructure. It identifies vulnerabilities, security weaknesses and misconfigurations that open doors for external attackers and insider threats.

  • Assess system configuration
  • Real-time network activity monitoring
  • Audit suspicious events

Click to receive the white paper “How to Manage and Mitigate Ransomware with LT Auditor+”

Conclusion

In conclusion, ransomware attacks are a growing and evolving threat that organizations cannot afford to ignore. Therefore, by taking a proactive approach to cybersecurity and implementing robust security measures, organizations can minimize the risk of a ransomware attack and ensure that they are prepared to respond effectively if an attack does occur. Check out our latest article on ransomware in healthcare – it’s a must-read.