The Cost Of Ransomware On Your Small Business

Ransomware is a major issue for companies of all sizes. An attack can cause detrimental harm to your business, setting you back and making you even more vulnerable. In this video, we discuss the types of damage a ransomware attack can do to your organization.

 

In recent years, cybercriminals have found some very effective ways to make money. While there are many threats on the internet today, few are as concerning as ransomware. Ransomware is a type of encryption that prevents you from having access to your files until a ransom is paid. Online, there are gangs of cybercriminals that attack individuals and organizations through these exact methods. They do this by watching the practices of your company for a number of months, learning your patterns, and then place locks on your valuable information. While this may sound inconvenient, and it certainly is, it is also a major expense to the organization.

Determining the cost of a ransomware attack is difficult because there are many factors involved. Searching “the costs of ransomware on a small business” will leave you with a variety of results, none of which will give you a definite answer. However, all experts in the area agree that a ransomware attack should not be taken lightly. Being the victim of one of these attacks will set your business back financially and will harm your overall security.

Another thing to consider when thinking about the threat of ransomware is the reputation of your business. Today’s customers are starting to see how important it is to make sure that their information is protected. As the entity holding their information, you want to make sure you appear as trustworthy as possible. If your company cannot protect itself, you cannot protect them. If clients should find out about a ransomware attack, they may be less likely to do business with you in the future, costing you even more than the initial attack itself.

Million dollar businesses, global corporations, healthcare organizations, schools, and government offices are all targeted by ransomware gangs every day. No organization is immune from this type of threat. This means that you should have structures in place to prevent attackers from taking advantage of you. Here are some of the ways that you can protect your company:

  • Educate your employees on the threats of ransomware
  • Invest in the right cybersecurity solutions
  • Make business continuity a priority
  • Have the right outsourced IT company

It is impossible to know how much harm will be done to your business by a ransomware attack. That being said, it is not worth taking the risk of being underprepared to find out the effects. Make sure your organization has what it needs to stay safe. Reach out to us here at DeVeera. We have all the tools we need to make sure that your company is secure and protected. Contact us online or by phone today.