It’s Time to Bust These 4 Ransomware Myths

In today’s digital age, ransomware attacks are becoming increasingly frequent, sophisticated and costly. With cybercriminals constantly evolving their tactics and targeting businesses of all sizes, organizations like yours must proactively safeguard your data and systems. Unfortunately, many companies fall prey to common ransomware myths, which can leave them vulnerable to attacks and unprepared to respond effectively in the event of an incident.

In this blog, we’ll debunk four of the most prevalent ransomware myths and provide the accurate information you need to protect your business. Understanding the realities of ransomware and taking proactive steps against it can mitigate the risk and ensure you’re prepared to fight against cybercriminals.

Top Myths to Bust

Myth #1: If my business gets hit with ransomware, I’ll pay the ransom and return to business.

Many businesses believe that paying a ransom is the quickest and easiest way to recover encrypted data. However, that’s just a dangerous and costly assumption.

Paying a ransom does not guarantee that the attackers will keep their word and provide the decryption key or not sell your data anyway. Also, paying a ransom only encourages cybercriminals to carry out more attacks in the future including attacking you again.

The best way to protect your business is to have a solid backup strategy and a comprehensive security plan in place.

Myth #2: My backups will get me back up and running if I get hit with ransomware.

While backups are essential to ransomware prevention, it’s a myth that backups will always save the day. Cybercriminals have upgraded their tactics to compromise backup files as part of their attack strategy, often waiting for the next backup before encrypting the files.

With the rise of double extortion attacks, cybercriminals not only encrypt data but also steal it. This means that even if you have a backup strategy in place, your data may still be at risk if attackers threaten to leak sensitive data unless a ransom is paid. Altera Technology can help put in systems to help prevent them from entering your network.

Myth #3: My antivirus software (or any other security solution) provides complete protection from ransomware attacks.

Antivirus software is essential to a comprehensive defense against ransomware, but it’s not enough. Relying on a single security product to defend against ransomware is a mistake. There’s no silver bullet solution to ransomware. However, implementing a defense-in-depth strategy can help your business build the most robust possible defense.

Myth #4: My business isn’t a target for ransomware attacks.

Many businesses believe that they aren’t a target for ransomware attacks because they’re too small or not valuable enough. However, this is a myth that can leave your business vulnerable. The truth is that organizations of all sizes and across all industries have valuable data that cybercriminals can exploit.

With the rise of more sophisticated and efficient cybercrime, hackers have expanded their target demographic, making businesses of all sizes prime targets. The best defense is to assume your business is a target and take proactive measures to protect your data and systems.

Partner to succeed

While it’s true that no security measure is foolproof, taking proactive steps to secure your data and systems can significantly reduce the risk of falling victim to a ransomware attack. Altera Technology can help ensure your organization is well-prepared to fight against ransomware and other cyberthreats. We cannot emphasize enough that an anti-virus and a fire wall is no longer enough. Feel free to reach out to us for a no-obligation consultation.

To learn more about ransomware criminals and how to defend your business, download our infographic “The Anatomy of a Ransomware Attack.” It’s a valuable resource that can help you increase your basic understanding of ransomware, identify the signs if you’ve fallen victim and prepare you to defend against these attacks.