Three-Quarters of Ransomware Attacks Target Small Business Technology

Are you being realistic about the potential threats to your business? Your business is at serious risk — here’s how you can respond.  

Ransomware: Impact On Baltimore Businesses

You might be thinking that your small business doesn’t really have to worry about cybersecurity. Why would any self-respecting hacker want to spend its effort cracking into a small business? It may seem like there’s little benefit to attackers because the ransoms that they could expect would be smaller than working with a large business, but the risks are also much smaller. With the perception that small businesses are an “easy target”, hackers are enjoying unprecedented success infiltrating small to mid-size businesses in the US.

71% of Ransomware Attacks Target Small Businesses

It’s shocking, but 71% of ransomware attacks in 2018 targeted small businesses with health-related industries seeing the highest growth of attacks. SonicWall research shows that there were 206.4 million ransomware attacks last year, an astounding 11% increase from the previous year’s number. Each of these attacks could potentially shut down a small business for days, weeks or even longer if there wasn’t a full data backup and recovery strategy in place before the attack. Ransoms are not always large, but the impact on the business could be many times greater due to lost productivity, the time required to remediate any problems as well as lost consumer confidence.

Ransomware and IoT

One of the latest trends in ransomware is the vulnerability presented by connected devices. The Internet of Things (IoT) includes everything from smart televisions and mobile devices to wearables and audio connections. Each of these devices is potentially vulnerable and needs to be fully protected from cybercriminals. Encrypting endpoints is a solid start to protecting your business, but this is only a preliminary measure. Each WiFi interaction with your business data and systems is a potential point of incursion for ransomware and other malicious software packages.

Should You Pay the Ransom?

The question that all business owners want to know is whether they should pay the ransom and hope that they’ll receive access to their business data and systems. While the majority of cybersecurity professionals recommend against paying a ransom, the question is truly personal. The majority of businesses that pay the ransom do regain access to their business data, but there are still a number of additional costs associated with renewing your business systems. The best protection is in taking proactive security measures to protect your business, including a robust backup and disaster recovery strategy, real-time monitoring and active software solutions such as anti-malware monitoring, email and web filtering and aggressive firewalls.

Your business deserves a high degree of protection from the ravages that can be caused by ransomware. At Tier One Technology Partners, our technicians stay up-to-date on the latest ransomware and other malware so we can keep your business safe from attack — or help you quickly resolve any problems if they occur. Contact us today at 443-252-2667 or fill out our quick online form to claim your free initial cybersecurity and business infrastructure consultation.