It’s Time to Bust These 4 Ransomware Myths

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Given the prevalence and sophistication of ransomware attacks, businesses need to be proactive regarding safeguarding their data and systems. Unfortunately, some companies may succumb to false beliefs about ransomware that leave them exposed and unable to handle an incident properly. Therefore, it is essential for all organizations, regardless of size, to ensure that they are familiar with these myths to avoid being taken advantage of by malicious cybercriminals.

Ransomware is a serious threat, so it’s essential to make sure you have the facts. Here we’ll look at four of the most common misconceptions and set things straight, offering the information you need to protect your company. Taking steps now can help prevent an attack by cybercriminals and mitigate risks, so let’s get started.

Top Myths to Bust

Without further ado, let’s debunk the ransomware myths you should avoid at any cost:

Myth #1: My backups will get me back up and running if I get hit with ransomware.

Contrary to popular belief, backups are not always enough to protect against ransomware. Cybercriminals have become increasingly skilled in their techniques and often target backup files as part of their malicious strategies. Therefore, companies must ensure their backup systems are secure and safe from attack.

The prevalence of double extortion attacks has meant that organizations can no longer rely solely on a backup strategy to protect their data. Cybercriminals are now capable of encrypting data and threatening to leak sensitive data in exchange for a ransom payment.

Myth #2: My business isn’t a target for ransomware attacks.

Cybercriminals don’t discriminate when it comes to ransomware attacks. Businesses of all sizes and across all industries are vulnerable targets, regardless of the perceived value of their data. It is a myth that small enterprises or those with ‘insignificant’ data are not at risk – this couldn’t be further from the truth!

With the rise of more sophisticated and efficient cybercrime, hackers have expanded their target demographic, making businesses of all sizes prime targets. The best defense is to assume your business is a target and take proactive measures to protect your data and systems.

Myth #3: If my business gets hit with ransomware, I’ll pay the ransom and return to business.

Many businesses believe that paying a ransom is the quickest and easiest way to recover encrypted data. However, that’s just a dangerous assumption.

Paying a ransom does not guarantee that the attackers will keep their word and provide the decryption key. Also, paying a ransom only encourages cybercriminals to carry out more attacks in the future.

The best way to protect your business is to have a solid backup strategy and a comprehensive security plan in place.

Myth #4: My antivirus software (or any other security solution) provides complete protection from ransomware attacks.

No single security product alone is enough to protect against ransomware, so it’s crucial to implement a defense-in-depth strategy. Antivirus software can play an essential role, but there is no magic solution that will keep ransomware away from your business. While nothing is completely foolproof, instituting multiple layers of protection is an effective way to build the most resilient defense possible.

Partner to succeed

With proper preparation, your company can ensure that your data and systems are as secure as possible can go a long way toward thwarting a ransomware attack. Our team offers no-obligation consultations to assist you in fortifying your organization against cyber threats. Do not hesitate to reach out for further details.