Ever since the first ransomware attack in the late eighties, more specifically 1989, these deadly and money-scamming forms of attacks have become the go-to option for hackers and malicious actors worldwide when attacking, to a great extent, businesses and, to a smaller extent, individuals. According to Statista, businesses worldwide got hit with 493 million ransomware attacks in 2022. However, this was a drop-off from 2021, with 623 million attacks.
As businesses saw the need to move their services and data to the cloud – using SaaS, hackers also decided to make the transition. They began employing numerous tricks and techniques to get into the SaaS system, abandoning the old ways of encrypting data stored on local servers and devices.
Today, ransomware attacking businesses from their SaaS endpoints is now common. Many businesses have reported being victims of SaaS ransomware attacks, and it seems it is a cyber-attack that cybercriminals will take advantage of for a long time. This has caused many businesses to panic and wonder if the transition to the cloud is worth it. However, as it always is with online network security, there will always be ways to increase and maintain protection, and this article will help you find the best ways to protect your business.
Today, ransomware has been taken to a whole new level. Every day, cybercriminals are looking for new devices, systems, apps, and software to exploit, and they have set their eyes on SaaS applications. Turning their targets away from local servers and devices, they have focused on SaaS apps, such as Microsoft 365, Google Workspace, Salesforce, Zendesk, Slack, and others. These apps are cloud-based and contain an enormous amount of sensitive data, making them attractive targets for attackers.
In basic terms, a ransomware attack is done by getting into a system through phishing processes and encrypting a part or the whole available data. The hacker in charge then contacts the company and requests a ransom. However, it is almost the same with SaaS attacks.
Once a SaaS ransomware attack on a business is successful, its consequences are extremely severe. Due to the amount of data lost or encrypted by the hacker, prolonged downtime could occur, disrupting the flow of day-to-day operations. This would lead to the business experiencing major financial losses, reputational damage, loss of customer trust, and even legal consequences, especially if consumers' data were compromised.
To protect your SaaS from ransomware, you must know the types of ransomware that exist and the type you have been attacked with. There are currently four types of ransomware: screen lockers, encrypting ransomware, MBR Ransomware, and hybrid ransomware. All forms of ransomware are dangerous and will require the best expertise.
However, here are the best strategies for protecting yourself from SaaS ransomware attacks or the usual:
Backup and recovery are essential aspects of protecting your business data and operations.
Businesses know that cyber-attacks are a matter of when and not if, so creating backups to fast-track recovery after an attack is a very good option. You should look to store your backups on cloud servers or physical external drives. Note: Proper backup ensures you can recover 90% of your data to ensure your business continues operations as soon as possible.
You should also look to back up your files at least once daily and in at least three different places, like an online server, an external drive, and one more of either. This way, you are covered in more than one way.
IT professionals and experts often advise users to keep their systems updated, and there are good reasons why. Updates ensure that systems are always kept safe from the tinkering of hackers and malicious actors. Cybercriminals are always looking for loopholes and vulnerabilities in software to take advantage of and cause problems. IT experts respond by creating patches and software to repair these vulnerabilities.
By installing these updates as soon as they are released, users are sure their systems are safe until other patches and updates are released. For people who find it challenging to know and monitor when their system needs to be updated, automating it is the best option. This way, your systems update themselves as soon as the patches are available without needing to do them yourself. You can also assign this task to a section of your business's IT department.
Note: Update your systems and PCs as early as possible to increase your online security levels.
Another effective way to protect your SaaS from ransomware is by using antivirus. These pieces of software can be very effective in scanning your devices and networks for malicious malware and eliminating them in the best way possible without harming your applications and system.
Firewalls can also be very effective in this regard. This software (which can sometimes be hardware, too) helps filter traffic coming into and going out of your network, ensuring that all of it is safe and permissible. This way, ransomware can be detected quickly and with ease and eliminate them as soon as possible.
It is commonly said that employees are the first line of defense regarding online safety and security, which is a fact. Employees are usually targets in cybersecurity, and keeping them informed of how cybercriminals operate in their bid to get into company systems is essential. It is vital that they know all kinds of phishing methods, such as zero-click malware, and how to avoid or counter them. Scheduling training and seminars will help in this regard.
Also, it is important to have a cybersecurity policy in place. This ensures that employees know what to do during an attack, which helps delay the threat for as long as it takes for the IT department to get a solution.
As previously said, cyberattacks are a matter of when and not if, meaning an attack will surely be successful sooner or later. A good way to protect your business is to get cyber insurance in the event of a cyberattack. This way, some aspects of your business are covered, such as legal fees and lost data. This method, however, should be used in addition to other measures rather than independently. You can protect your business with timely cyber insurance while minimizing financial damage.
Ransomware is becoming a threat to the world, but there are ways to counter it. Effective custom security practices and processes can free your business from this threat. Vudu Consulting is here to give your business that security and more.
Contact us online or email us at contact@vuduconsulting.com.
