Ransomware attacks and how to avoid them

Ransomware is one of the biggest cyber threats to an enterprise. Know how enterprises can mitigate the threat of ransomware.

ransomware attacks
Eliminating password fatigue and using real-time alerts for credential management can help by avoiding data-based vulnerability.

By Shomiron Das Gupta

The year 2021 has brought a new wave of cyberattacks that seem to be hurting the digital age. As more industries embrace work from home and step into the digital world, an increase in network risk is inevitable. Negligence in dealing with these invisible threats can make organizations vulnerable to cybercrime.

Often, critical industry sectors face ransomware attacks that result in huge financial losses. Ransomware refers to malicious software that, when uninstalled, prevents a person from using their computer. For the user to access the computer again, they need to meet the requirements of the hacker by paying a large sum of money. Approximately 37% of global organizations said they were the victim of some form of a ransomware attack in 2021, according to IDC’s “2021 Ransomware Study.”

How to mitigate the threat of ransomware?

Amidst the ever-increasing amount of technology and cyber threats at the same time, IT managers can do the following things to help keep their organization’s network safe.

  1. Patches speak louder than words

Deploying requisite patches without delay can prevent organizations from becoming victims of outdated software and computer malware. Using a management tool to automate the entire process can reduce manual effort and the time spent to patch all systems across the organization. Keeping an eye out for missing patches and existing vulnerabilities can save the enterprise from a vast number of cyberattacks.

  • Your organization is only as strong as your weakest link

After an attack, the damage is done, and the lost trust cannot be easily regained. Stay one step ahead of a data-based attack by deploying security policies that enforce passwords and other authentication manager tools to ensure the security of multiple accounts. Eliminating password fatigue and using real-time alerts for credential management can help by avoiding data-based vulnerability.

  • Your antivirus journey begins with automating updates

Those who create malicious software are aware of the dangers posed by the network and create malicious code to hack your vulnerabilities. Installing an antivirus solution is important, however, it does not end there. Security management also requires regular updates to know about the latest definitions of the virus.

For effective ransomware prevention, a combination of monitoring applications, frequent file backups, anti-malware software, and user training is required, as new virus definitions are emerging daily. It becomes tedious to track them and update them continuously, and it can also lead to a bandwidth bottleneck. Although no cyber-defences reduce risk completely, it is possible to limit the chance of attackers successfully by taking accurate measures. Also, automating the task of updating antivirus solutions during non-business hours can prevent this restriction and save time for IT administrators.

The author is Founder & Chief Executive Officer at DNIF. Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.

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First published on: 24-05-2022 at 14:47 IST