Ransomware is on the rise, becoming the single biggest threat to a business’s network. Making matters worse, far too many small- and medium-sized businesses (SMBs) aren’t taking this grave threat seriously. A great deal of SMBs are under the misconception that cybercriminals only target large organizations with their nefarious efforts. While it is true that big companies are frequently the target of ransomware schemes—in the past month alone, large entities Canon, Garmin, and Travelex have suffered ransomware attacks—SMBs are hardly immune.
Large corporations are certainly attractive targets to hackers from a payoff angle, as they have the resources to pay ransoms in the millions. Garmin reportedly paid a multi-million dollar ransom to the cybercriminals that used ransomware to encrypt their computer files in exchange for the decryption key necessary to recover the files. That’s quite the payday for a hacker. However, while SMBs might not be able to afford such a large payoff, they also lack the resources of a big company such as Garmin to defend themselves against ransomware. Smaller companies typically lack the budget, personnel, and expertise required to mount an adequate cybersecurity defense, putting them at greater risk. Bad actors know this, and take advantage of it, making ransomware just as big of a threat to SMBs as it is to the big guys.
According to software and technology solutions provider Datto’s Global State of the Channel Ransomware Report, ransomware is the most prominent malware threat for SMBs. One in five SMBs has fallen victim to a ransomware attack, with nearly half experiencing business-threatening downtime. Those numbers increase for businesses that don’t outsource the management of their IT to a managed services provider. As you might expect, lacking a qualified IT partner with the resources and know-how to shore up your cybersecurity defenses only increases a company’s vulnerability.
Partnering with an IT services provider is a great way to reduce the risk of ransomware wreaking havoc on your small- or medium-sized business. You’ll have access to the resources, technology, and expertise you need to keep ransomware and other cybersecurity threats at bay. Resources, technology, and expertise few SMBs can muster on their own, given their limited budgets. If your company is ready to start taking ransomware seriously and protect your data and network, contact Golden Gate Office Solutions today.
