Ransomware is being used with increasing frequency to extort money from computer users all over the world. It has become so prevalent, in fact, that it can now be found in advertisements on many popular websites.

While ransomware infections are indiscriminate when it comes to who they target, the total cost of infection falls disproportionately on small businesses. This is because small businesses tend to have much more limited financial resources than larger enterprises, and often lack the robust security infrastructure needed to protect against ransomware attacks.

And when it comes to preventing ransomware infections, backups are among the most effective tools available. However, many businesses don’t take proper precautions when setting up backup systems for their computers.

Here’s what you should know about business data backups and ransomware prevention.

The Rise of Ransomware

Ransomware has become an increasingly popular way to extort money from businesses and consumers. The FBI reports that in the last 18 months they’ve received over 2,500 complaints of ransoms demanded through Cryptolocker alone—with payments totaling $18 million. But what can you do to protect yourself?

A recent survey by ESET found that 9% of Americans have been impacted by ransomware, but only 31% have regular data backups in place to help minimize the risk if they are ever hit with a malware attack such as ransomware or cryptoware.

How Can Businesses Prepare?

Even though more than 90% of businesses are able to recover their data after a ransomware attack, it is not without its costs. Financial, reputational, and operational costs are all part of the aftermath of a successful ransomware attack.

The first step to protecting your business against ransomware is ensuring that you have effective data backups in place. Data backups, however, are only as good as their implementation.

For example, it is essential for businesses to have multiple copies stored on different media types in multiple locations. You should also make sure that your backups are set to update at least daily, particularly if you have client or customer data on your network.

How IT Service Providers Can Help

An experienced IT service provider can help businesses find a backup solution that works for their business’s unique needs. This may include a mixture of on-site and off-site backups, as well as different media types (including both physical and virtual backups).

IT service providers can also help businesses create a schedule for backups that will minimize the risk of data loss in the event of a ransomware attack or other malware infection.

The most important step is creating a solid backup plan that you can rely on when the worst happens. ThrottleNet can provide your business with a backup system that will help you recover from a ransomware attack.

To find out more information about business data backups and ransomware prevention, contact us today.

16 Ways to Protect Your St. Louis Business From Cyberattacks

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15 Ways to Protect Your Business from Cyberattacks