Ransomware threats are surging – here’s how to protect your business

Ransomware threats are surging – here’s how to protect your business

Imagine waking up one morning, turning on your computer, and finding that all your important files – everything from customer data to financial records – are locked. Tight.

And then a scary message pops up demanding a ransom fee to unlock them.

That’s ransomware in a nutshell. It’s a type of malicious software that hijacks your data and holds it for ransom.

It usually starts with an innocent-looking email or link. You might get an email that seems legitimate, asking you to click on a link or open an attachment.

This is known as a phishing email, where the sender appears to be genuine but isn’t. Once you click, malicious software is silently installed on your system. From there, the cyber criminals quickly go to work.

They’ll be encrypting your files so you can’t access them. Then, you get that dreaded ransom note, demanding payment in exchange for a decryption key to unlock your files. Paying the ransom is a risky move because there’s no guarantee you’ll get your data back, and it just encourages the attackers to target more victims.

2023 was a particularly bad year for ransomware, with attacks surging after a two-year decline. According to a report, there was a huge increase in ransomware incidents, breaking a six-year record.

One reason for this spike is the rise of something called Ransomware-as-a-Service (RaaS). This model lets cyber criminals “rent” ransomware tools, making it easier than ever for them to launch attacks.

As a result, more businesses are finding themselves posted on data leak sites, with a 75% increase in the number of victims between 2022 and 2023.

Ouch.

And it gets worse. Attackers are getting smarter. They’re developing new variants of old ransomware, sharing resources, and using legitimate tools for malicious purposes.

They’re also working faster, often deploying ransomware within 48 hours of gaining access to a network. And they tend to strike outside of work hours, such as when you’re tucked up in your bed, so they’re less likely to be noticed.

If your business falls victim to a ransomware attack, the consequences can be devastating. You might face significant financial losses, not just from the ransom itself but also from the cost of downtime and recovery.

There’s also the risk of losing critical data if you can’t decrypt your files.

Your reputation could take a hit if customers find out their information was compromised. Oh, and your business operations could be severely disrupted, affecting your ability to serve your clients.

The most important question then: How can you protect your business from this growing threat?

  • Start by educating your team. Make sure everyone knows how to spot phishing emails and avoid suspicious links and attachments
  • Regularly back up your critical data and securely store those backups offline
  • Keep your software and systems up to date with the latest security patches, and invest in strong security tools
  • It’s also important to limit access to your data. Only give employees access to the information they need for their jobs
  • Monitor your network for unusual activity and have a plan in place to respond to incidents quickly

If you do get hit by a ransomware attack, don’t panic. Work with cyber security experts (like us) to resolve the issue.

Remember, it’s best not to pay the ransom, as it only fuels the cyber criminals’ activities.

My team and I help businesses take proactive action to protect their data. If we can help you, get in touch.

Are your employees reporting security issues fast enough… or even at all?

Are your employees reporting security issues fast enough… or even at all?

Getting your team to report security issues quickly is something that’s important for your business… but maybe something that might not have crossed your mind before.

You might think that with so many security tech tools, you’re covered. But guess what? Your employees are your first line of defence, and they’re irreplaceable when it comes to spotting and reporting security threats.

Imagine this: One of your employees receives a fishy-looking email that appears to be from a trusted supplier. It’s a classic phishing attempt (that’s where a cyber criminal sends an email and pretends to be someone else to steal your data).

If the employee brushes it off or thinks someone else will handle it, that innocent-looking email could lead to a massive data breach, potentially costing your company big bucks.

The truth is, less than 10% of employees report phishing emails to their security teams. That’s shockingly low. Why? Well:

  • They might not realise how important it is
  • They’re scared of getting into trouble if they’re wrong
  • Or they think it’s someone else’s job

Plus, if they’ve been shamed for security mistakes before, they’re even less likely to speak up.

One of the biggest reasons employees don’t report security issues is that they just don’t get it. They might not know what a security threat looks like or why reporting it is crucial. This is where education comes in, but not the boring, jargon-filled kind.

Think of cyber security training as an engaging and interactive experience. Use real-life examples and scenarios to show how a small issue can snowball into a major problem if not reported.

Simulate phishing attacks and demonstrate the potential fallout. Make it clear that everyone has a vital role in keeping the company safe. When employees understand their actions can prevent a disaster, they’ll be more motivated to report anything suspicious.

Even if your employees want to report an issue, a complicated reporting process can stop them in their tracks. Make sure your reporting process is as simple and straightforward as possible. Think easy-access buttons or quick links on your company’s intranet.

Make sure everyone knows how to report an issue. Regular reminders and clear instructions can go a long way. And when someone does report something, give them immediate feedback. A simple thank you or acknowledgment can reinforce their behaviour and show them that their efforts matter.

It’s all about creating a culture where reporting security issues is seen as a positive action. If employees feel they’ll be judged or punished, they’ll keep quiet. Leaders in your company need to set the tone by being open about their own experiences with reporting issues. When the big boss talks openly about security, it encourages everyone else to do the same.

You could even consider appointing security champions within different departments. These are your go-to people for their peers, offering support and making the reporting process less intimidating. Keep security a regular topic of conversation so it stays fresh in everyone’s minds.

Also, celebrate the learning opportunities that come from reported incidents. Share success stories where reporting helped avoid a disaster. This not only educates but also motivates your team to keep their eyes open and speak up.

By making it easy and rewarding for your employees to report security issues, you’re not just protecting your business; you’re also building a more engaged and proactive workforce.

Encourage open communication, continuous learning, and avoid shaming anyone for their mistakes. The faster issues are reported, the easier and cheaper they are to fix, keeping your business secure and thriving.

This is something we regularly help businesses with. If we can help you too, get in touch.

IT

Now Copilot’s going to make your team work better together

Now Copilot’s going to make your team work better together

Have you heard about Team Copilot yet? It’s the latest addition to Microsoft’s suite of AI tools and should be available later this year.

Think of Team Copilot as an advanced, AI-powered assistant designed to help your team work better together. While Microsoft’s 365 Copilot has been a personal assistant for individual tasks like drafting emails or recapping missed meetings, Team Copilot takes it to the next level by focusing on group activities.

There are three main ways Team Copilot can help your team:

1. Meeting facilitator

During a Teams video call, Team Copilot can take notes that everyone in the meeting can see and edit. It can also create follow-up tasks, track time for each agenda item, and assist with in-person or hybrid meetings when used with Teams Rooms.

2. Group text chat assistant

In group text chats within Teams, Copilot can summarise lengthy conversations to highlight the most important information. It can also answer questions from the group, making it easier to stay on track and informed without wading through pages (and pages and pages) of chat history.

3. Project manager

Team Copilot can help manage projects by creating tasks and goals within Microsoft’s Planner app. It can assign these tasks to team members and even complete some tasks itself, like drafting a blog post. It will notify team members when their input is needed.

You know that productivity isn’t just about individual work. It’s also about effective teamwork. So, by helping with group-orientated tasks, Team Copilot can make big improvements to your overall productivity.

It’s important to note that while Team Copilot is incredibly helpful, it doesn’t replace the role of a human meeting facilitator. It won’t lead meetings or ensure inclusivity, but it will create agendas, track time, take notes, and share files.

It’s more of a business insights assistant, helping with group interactions and meetings rather than censoring comments or keeping people in line. But hey, who knows what’s to come in future!

Team Copilot will be available in preview later this year for Microsoft 365 customers with a Copilot subscription. While it’s a work in progress, the potential it has to transform team productivity is huge.

Keep an eye out for its release and think about how it could fit into your workflow to boost your team’s productivity.

If you have any questions or need further assistance in understanding how Copilot can benefit your business, get in touch.

More businesses are proactively investing in cyber security defences

More businesses are proactively investing in cyber security defences

More and more businesses are making the smart decision to be proactive and invest in their cyber security defences. This is fantastic news, especially since stats show that about half of small and medium-sized businesses still have no cyber security measures at all.

If your business falls into that category, it’s time to change.

Cyber security might sound complex, but it starts with a few simple steps. Let’s talk about some basics you can put in place right away.

First, think about encryption and multi-factor authentication (MFA). Encryption is like putting your data in a secure vault. It ensures that even if someone intercepts your information, they can’t read it without the encryption key.

MFA adds an extra layer of security by requiring you to verify your identity using a second device, like your phone, whenever you log in. It’s a bit like needing two keys to open a lock instead of just one.

Another easy step is using a password manager. These generate long, random passwords for every account and remember them for you. Password managers make life easier and your business more secure in one package. Amazing.

Advanced monitoring tools are another great way to protect your business. They’re a little like security cameras for your digital space, always on the lookout for anything suspicious. These tools help detect unusual activity in your systems, giving you a heads-up if something’s not right.

And let’s not forget about protecting your business from phishing scams. These are attempts by criminals to trick you into giving away personal information by pretending to be someone you trust, like a supplier or a bank. Educating your team on how to spot these scams is crucial. If something feels off, it probably is.

Why is investing in cyber security so important?

  • It protects your data
  • Avoids financial loss
  • And builds trust with your customers and partners

Your business data is valuable, and protecting it means safeguarding your business’s operations and reputation.

Cyber attacks can be costly, not just in terms of money but also time and resources. Prevention is ALWAYS cheaper than dealing with the aftermath of a breach. Plus, showing that you take security seriously helps build trust with your customers and partners. They need to know that their information is safe with you.

Investing in cyber security doesn’t have to be daunting. We’re the experts in this field and would love to help you secure your business. Whether you need advice on getting started or want a comprehensive security plan, get in touch.