The Cost Of Ransomware On Your Small Business

Have you considered the potential costs of a ransomware attack on your business? If not, there are some things you should know. In this video, we discuss what ransomware is and how it can affect organizations of any size.
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posted on March 7th 2021

The Cost Of Ransomware On Your Small Business

Have you considered the potential costs of a ransomware attack on your business? If not, there are some things you should know. In this video, we discuss what ransomware is and how it can affect organizations of any size.

One of the newest types of attacks cybercriminals are using is a technology called ransomware. Ransomware is a type of encryption that prevents you from having access to your files until a ransom is paid. Ransomware gangs use this method to make money from as many individuals and businesses as they can hack. They do this by watching the practices of your business for a number of months before placing locks on your information, making it impossible to get into. This forces you to pay the ransom, hoping you will receive access to your files.

After reading this, you may be wondering how much a ransomware attack can cost. Searching “the costs of ransomware on a small business” will produce a variety of results, and none of the answers will be completely accurate. This is because of how many variables are involved in these types of cybercrimes. However, one thing experts agree on is that these attacks can be detrimental. An attacker could create monetary, reputation, or security losses for your business.

Million-dollar businesses, global corporations, healthcare organizations, schools, and government offices are all subject to ransomware attacks. Any unprotected company could be targeted. This means that you must do everything you can to make your business secure so that it is less vulnerable to these threats. Here are some of the ways that you can protect your organization:

  • 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 difficult to know just how much is at risk with a ransomware attack. That being said, do not take them lightly. Ransomware attacks are a very serious concern that could do great amounts of damage to your organization. For help securing your business and preventing ransomware from being placed on your information, reach out to us. We are here to help with all of your technology needs. Contact us online or by phone today.