Ransomware and Small Businesses: Why Some of Them Just Pay It

Ransomware and Small Businesses: Why Some of Them Just Pay It


One of the biggest misconceptions among small business owners is that their company is too small to be the target of many cyber crime events – including ransomware. Statistically, this couldn’t be further from the truth.

In 2019 205,280 businesses submitted files that were victim to a ransomware attack, and 71% of those attacks were aimed at small to medium sized businesses. The average payout was $41,198, but many payments are significantly higher. Could your business withstand losing a lump sum of money right now?

Luckily for many businesses the use of prevention tools and having a proactive tech team means you won’t have to, but what if you’re not so lucky? Why do some businesses just pay the ransomware?

For many businesses their computer systems are directly tied to their day to day operations. So, if your files are being held by a hacker (or many times a group of hackers) you’re basically shut down. As a business you require your day to day operations to remain sustainable, but for many the margin for sustainability and being out of business is razor thin.

This means their business won’t survive an extended downtime while they wait for authorities to try to get their files back (if they ever do). So, they just pay the ransom.

Another scenario is if you’re in a sector where client confidentiality is paramount (think healthcare or finance), then the leaking of those details and the fines incurred will also put you out of business.

When it comes to ransomware the best method of protection is prevention. This means making sure your computers remain up to date – as of this posting there is a dangerous worm targeting Windows machines that haven’t been updated (learn more here.) It also means having a comprehensive security suite protecting all the machines attached to your network (even mobile ones!).

Finally, the best means of protection is having a good IT team backing your business – and backing up your important files! Your tech team will often be able to restore from backup if you DO get hit by ransomware despite having the other methods of protection in place. Their backup could literally save your business.

If you’re in the Central Valley and don’t feel 100% confident your business will be protected in the event of a ransomware attack, reach out to us today.

This article was powered by Valley TechLogic, an IT provider in Atwater, CA. You can find more information at https://www.valleytechlogic.com/ or on Facebook at https://www.facebook.com/valleytechlogic/ . Follow us on Twitter at https://twitter.com/valleytechlogic.

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