cybersecurity in texas

Ransomware attacks can have an impending and far-reaching impact on your business’s reputation, data security, employee retention, and overall performance. 

Cybersecurity has become a challenge for modern businesses. From phishing scams and profile breaches to malware issues, several types of cyber risks are now impacting small to large-scale enterprises. Among various kinds of cybersecurity problems, ransomware is surely the most common one. It tops the list of hackers’ most favorite and convenient techniques to exploit user data and information in the virtual world. 

Ransomware might sound like a very familiar term, but there are a lot of nitty-gritty factors that make this type of cyber issue and deadly risk for businesses. In the recent past, ransomware attacks haven’t just impacted multi-million dollar companies, but have also breached information stored in schools, hospitals, public agencies, and privately owned databases.

In this blog, we have talked about ransomware in detail. So let’s get started.

What is Ransomware?

Ransomware is a type of cyber malware or threat intended to furtively permeate PC systems, induce viruses and bugs into them, and access encrypted data. Ransomware attackers have gained more expertise by the day. Today, they’re able to conduct more intricate ransomware attacks than before.

Ransomware attempts have been increasing in the world regardless of the firms trying to invest more in cybersecurity solutions. This is mainly because business owners don’t fully understand the importance and influence of ransomware. 

Ransomware is spread throughout a computer system. It not only harms encrypted files, but also traces currency and payment information. Using a malware tool, hackers can also share the information stored on a private computer with their own PCs. 

Ransomware is typically used to access and exploit data that is fully encrypted, but shared among different systems. This type of malware easily renders all kinds of files without leaving any recovery source behind. Ransomware attackers require companies to pay for their data. However, studies show that 92% of the affected organizations never get their data back even after paying the ransom amount. 

What’s at Stake?  

When talking about ransomware, you need to understand what’s at stake for your business. Various factors affect the intensity and impact of a ransomware attack. At 3i International, our qualified IT team can help you prevent these attacks using robust cybersecurity and cloud solutions. It's, however, imperative that you understand the outcomes of a ransomware attack on your company’s data.

 

  • Critical Data Loss

 

While it’s true that ransomware’s literal meaning is data theft leading to companies paying off the ransom for retrieval, unfortunately, this is hardly the reality. Hackers usually use ransomware as a means to access and exploit your company’s information, but give no data retrieval guarantee even after receiving the ransom. Ransomware is targeted at IP, confidential, and financial data theft. Hackers can even sell this data to your competitors or any other entities for financial gain.

 

  • Ransomed Records

 

If ransomware hackers don’t have the intention to sell or expose your data, they can use it to claim ransom. This is why you need to have an allotted contingency amount that can be used to pay hackers instead of impacting your cashflows or income. 

This part is extremely crucial, especially if ransomware hackers have accessed or snitched customer and vendor information.

Tips to Prevent Ransomware Attacks

While the best way to prevent cybersecurity issues is to hire a managed IT and cybersecurity team, you should also:

  • Install and implement firewalls and antivirus software applications in the business PC system
  • Install a reliable VPN tool to secure your private network
  • Manage controls to critical information and data
  • Use trusted sources and websites to download data
  • Secure sensitive data with strong, long, and high-quality passwords
  • Work with a trusted IT service provider
  • Use quality coding and encryption to secure your company’s data

3i International is a leading IT consultancy and software implementation firm offering robust and reliable cloud-based data management, automated service management, inter-cloud resource management, and cloud infrastructure management at the best rates.