Originally Published on Ardham Technologies Talk Tech Blog
The recent rise of ransomware crimes puts every business at risk. Consider this: the U.S. Department of Justice is elevating ransomware investigations to take the same priority as terrorism. The average cost of a ransomware attack is $4.44 million, compared to $3.86 million for a data breach. These costs hit large corporations hard—imagine what it could do to your own business.
Ransomware is malware that is designed to block user access to their computer systems and files. After encrypting the data, hackers then demand a ransom payment in return for restoring access to your files. One of the leading causes for ransomware attacks is phishing emails—a type of cyberattack often used to steal user data or infect a computer. As ransomware attacks have grown in sophistication, even the most competent companies are at risk. What’s worse is that the ransomware ‘gang’ operators sometimes sell the data on the dark web.
What can you do to stay vigilant in the face of rising cybercrime? First, be familiar with recent events and trends. Let’s take a look at the Colonial Pipeline cyberattack. This recent ransomware incident is making headlines across the globe—and for good reason. Attacked by a new cyber gang and shut off from vital operational information, Colonial Pipeline was forced to shut down 5,500 miles of refined oil pipeline. Gas station lines crept longer as the country’s gas supply dwindled. People’s fears of facing a long-term gas shortage erupted into panic-buying and hoarding what supply was available. With few options left, the Colonial Pipeline CEO made the tough decision to pay the $4.4 million ransom.
Other recent attacks leaked personal information of the largest trailer manufacturer in the U.S. to the dark web and hijacked patented schematics from Apple in an effort to get a $50 million payout. While these large-scale attacks are the ones featured in the news cycle, everyone needs to understand their own risk factors.
Whether you run a small business or larger organization, Ardham has superior cybersecurity in place for our clients. Following the nationally recognized NIST Cybersecurity Framework (CSF), the Ardham team provides a comprehensive assessment of risks covering the five primary functions of the NIST CSF. At each point, you’ll receive the proper recommendations to mitigate your risks online. This bypasses the high cost and long lead time of traditional risk assessments and gives our clients an efficient, approachable solution in a fraction of the time.
Are you concerned about your business’s risk exposure? Ardham’s engineering and security design team is available to discuss in-depth solutions that are achievable for your budget and risk appetite. Upon completion of the NIST CSF Risk Assessment, you’ll receive a copy of the report along with recommendations to address each risk. While the NIST CSF is a strong foundation for most organizations, we also perform CMMC Level 1-3, NIST 800 series, and other leading security framework assessments. An Ardham audit practitioner will discuss the results, risks, and possible solutions that are necessary to secure your business at the appropriate level.
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