![]() ![]() For those with public systems or those that rely on high availability (this is especially true in the payments industry), full redundancy and robust disaster recovery plans can limit the impact of an attack. ![]() The consequences of a ransomware attack vary drastically between organisations. This of course depends entirely on what was stolen and how prepared the organisation was for this event. Then comes a more difficult decision: whether to pay the ransom. With constantly evolving cyber threats that are becoming more difficult to prevent, businesses should protect themselves with preventative security, post-attack risk management and incident response solutions.įollowing a ransomware attack, the first step should be to stop the bleeding and identify the affected systems and data. In an ideal world, cyber security prevention and risk mitigation would be carried out before an attack happens, but in many cases, this is a lot easier said than done. When a business falls victim to a ransomware attack, it is already too late. In recent years, pressure has become the greatest tool for the cyber attacker. While companies are taking steps to improve their security measures, cyber criminals and data thieves are also taking steps to ensure they make money from these attacks. ![]() The same could be said for those on the attacking side, however. So new solutions to fix these issues are constantly being tested and released, fighting back against the ever-present ransomware threat. This has become especially true during the global COVID-19 pandemic, where the work-from-home environment has meant that networks are less secure as entry points are spread out and human error can lead to holes in the metaphorical security fence. Payment processors and other companies involved in the payments space hold onto valuable data from customers and partners alike this is data that black market organisations and malicious individuals find very enticing.įortunately, cyber defence tools and risk management protocols are constantly improving to evolve alongside cyber-attack technology, and new solutions are being introduced to keep that data safe. The popularization of ransomware attacks has caused them to become a major risk for all businesses, and this is especially true in the financial services sector. Companies have developed new methods of keeping valuable data safe from cyber criminals, but over the last two years these same criminals have gotten smarter, and in turn, are now applying greater pressure on their victims to pay their ransom. ![]()
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