5 Ways to Protect Your Small Business from Ransomware Attacks

Ransomware has become one of the fastest growing malware threats to small businesses in recent years. According to Cybersecurity Ventures, it is predicted that ransomware damages will cost the word $11.5 billion in 2019.

Small businesses are extremely vulnerable to these attacks. Businesses can minimize the impact of ransomware attacks by deploying a backup system for all critical information and establishing additional safeguards so that hackers have fewer entry points into their networks.

Northwest Bank offers these tips to help guard against ransomware attacks:

• Educate your employees. Employees can serve as a first line of defense to combat online threats and can actively help stop malware from infiltrating the organization’s system. A strong security program paired with employee education about the warning signs, safe practices, and responses aid tremendously in preventing these threats.
   
• Manage the use of privileged accounts. Restrict users’ ability to install and run software applications on network devices, in an effort to limit your networks exposure to malware.
   
• Employ a data backup and recovery plan for all critical information. Backups are essential for lessening the impact of potential malware threats. Store the data in a separate device or offline in order to access it in the event of a ransomware attack.
   
• Make sure all business devices are up to date. Ensure antivirus and anti-malware solutions are set to automatically update and conduct regular scans so that your operating systems operate efficiently.
   
• Contact your local FBI field office immediately to report a ransomware event and request assistance. Visit https://www.fbi.gov/contact-us/field to locate the office nearest you.