Ransomware surged 105% last year in North America. In fact, it has become one of the most common types of malware attacks in recent years. If you’re a business owner, it’s important to understand what ransomware is and how to mitigate the dangers of ransomware attacks.

In this blog post, we’ll cover the pervasiveness of ransomware attacks, the most common types of ransomware attacks, and the best way to protect your business from these dangerous threats.

The Rise and Popularity of Ransomware Attacks

It’s no secret that ransomware attacks are becoming more and more common. North America experienced more ransomware attacks than any other region in 2020. Why is it so popular? Because ransomware is an incredibly effective way for cyber criminals to make money.

Ransomware attacks work by encrypting a victim’s data and then demanding a ransom payment in order to decrypt the data. In many cases, the cybercriminals will also threaten to delete the data if the ransom is not paid.

This type of attack is particularly effective against businesses because companies often have sensitive data that they can’t afford to lose. Unfortunately, even if you pay the ransom, there is no guarantee that the cybercriminal will return the stolen information. 

Common Types of Ransomware Attacks

There are many different types of ransomware attacks, but there are a few that are more common than others. These include:

  1. Crypto/Encryption Ransomware: This type of ransomware encrypts a victim’s data and then demands a ransom payment in order to decrypt the data.
  2. Doxware: These attacks threaten to release a victim’s sensitive data to the public unless a ransom is paid.
  3. Scareware: This method uses fear tactics to scare victims into paying a ransom. This can include bogus warnings about viruses or other malware and often imitates law enforcement agencies.
  4. Lockers: This type of ransomware locks a victim out of their computer or device until a ransom is paid.

How To Mitigate Ransomware Attacks

There are a few things businesses can do to mitigate the dangers of ransomware attacks, and these include:

  1. Educating employees:  One of the best things businesses can do to mitigate ransomware attacks is to educate their employees about what ransomware is and how it works.
  2. Implementing security measures: Businesses should also implement security measures such as firewalls, anti-malware software, and intrusion detection systems.
  3. Backing up data: Another important measure businesses can take to protect themselves from ransomware attacks is to regularly back up their data. This way, if their data is encrypted by ransomware, they will still have a backup copy that they can use to restore their data.
  4. Update your software: Keep your software up to date with the latest security patches. These will keep attackers from infiltrating your systems through known weak spots. 

Protect Your Company From Ransomware with ThrottleNet

If you’re a business owner, it’s imperative to take steps to protect your business from the rising ransomware attacks. While cybercriminals are continually improving tactics, cybersecurity professionals can help mitigate ransomware and keep your company safe. 

To learn more about how to protect your business and its data from ransomware attacks, reach out to a representative from ThrottleNet today.