Avoid the business nightmare of ransomware

Avoid the business nightmare of ransomware

In 2023, ransomware payments to cybercriminals reached an all-time high (so far) of $1.1 billion.

As we reported last year, threat actors are now not only demanding money; they’re also removing sensitive data from the systems they attack, and the damage to operations, assets and corporate reputation can be extremely costly and time-consuming. The $1.1 billion figure for 2023 doesn’t include any loss of productivity, or the cost of taking remedial action. When MGM resorts were targeted last year, the estimated cost of business disruption was over $110 million.

As the use of ransomware continues to escalate, what should you be doing to protect your organization?

Always have a data backup

Government organizations such the National Security Agency or the UK’s National Cyber Security Centre offer the latest advice and guidance on minimizing the risk and impact of cyber threats. And they will tell you that regularly backing up your data to a secure location, preferably offsite, is one of the most important things you can do.

And as email security specialists, we should point out that it’s also vital to protect and preserve your corporate emails as part of your overall data security strategy. Libraesva Email Archiver seamlessly integrates with your mail server (on-premise or cloud). Its native integration with Office 365 and Microsoft Exchange and exclusive Outlook Add-In for Windows and Mac makes it easy to use and access.

Strengthen your email security with AI

Corporate email presents a wide attack surface – with as many possible points for creating a breach as your business has inboxes.

Partnering with a provider like Libraesva ensures your email security is nearly impenetrable. We can help you to filter out 99.9% of all phishing and malware attacks. Our AI-driven Adaptive Trust engine dynamically tracks relationships between senders and recipients to measure trust and improve threat detection on a continual basis.

Increase employee diligence through phishing awareness campaigns

Ransomware attacks usually begin by exploiting human nature. Recognizing fake emails is becoming much harder, as easy access to generative AI has empowered bad actors and accelerated their output.

Running a phishing awareness campaign involves sending your own realistic (but harmless) phishing emails to employees, so you can see who’s clicking on what and where. This will help you to evaluate risk (individually or by team), target cyber security training where it’s needed, and embed and reinforce best practice within your workforce.

Need advice on building your organization’s ransomware protection plan?