Ransomware and the Importance of Business Data Security

Businesses hold a lot of important financial and personal information for clients and employees alike– data that needs to be maintained and protected. However, despite the protection, or lack thereof, systems can be breached and information can be held for ransom.  The tactic is often referred to as a ransomware attack, and though it’s not often in the headlines, it’s a data security issue that business owners should be aware of. 

You may wonder what a ransomware attack entails.  It typically happens after an initial breach of or intrusion into your system or network when some form of wall or data removal from your devices prevents you from accessing data.  You are then made aware that an external party has your data and is demanding something (usually funds) in exchange for its release. While these matters can be dealt with through the police and legal action, they can also have lasting consequences and may even leave you without the ability to run your business in the meantime!

There are several steps that you can take to minimize the destructive effects a malware attack.  For example, you can avoid becoming an easy target by backing up your data, so that a data deletion or denial of access won’t actually affect you. You can also make sure to install firewalls and use antivirus software and to limit employee access to important electronic files. Does your newest hire need to be able to see all of the records your business keeps? Can you limit which files are common knowledge and which you only entrust to yourself and your backup? Minimizing exposure to your more delicate data is another way to avoid potential problems.

Ultimately, protecting yourself and your business from a breach can be the best way to avoid the hazards of a ransomware attack. While contacting the police and data backups are solid options for assisting you, they aren’t a solve-all solution. When a breach occurs and a ransomware attack is carried out, even if it isn’t successful in forcing you to pay a sum, there is still a crucial issue since your business or clients’ personal and financial information may have been leaked.  You should be prepared for this and may want to consider working with a technology expert and an attorney well-versed in cybersecurity.  Both can advise you on measures you can take to protect you and your business and steps to take once an attack has occurred.

The information presented here is for general educational purposes only. It does not constitute legal advice and does not create an attorney-client relationship.