Mimecast: How Different Industries Can Approach Ransomware Protection

NEW YORK - March 3, 2022 - (Newswire.com)

Ransomware attacks have grown drastically in the last few years. Unfortunately, attacks have also targeted a wider range of industries that, historically, have faced fewer cyber threats, leading them to believe they had no need to worry about cybersecurity.

Cybercriminals have realized that because these industries have viewed themselves as safe from cyberattacks, they have large vulnerabilities in their awareness and protection. In a way, these industries have become easier targets.

However, there are ransomware protection options available for these industries that will allow them to fight the increased incidence of these vicious cyberattacks.

Ransomware Protection in Healthcare

In recent years, there has been an uptick in ransomware attacks in healthcare facilities and hospitals. The Covid-19 pandemic has overwhelmed their critical infrastructure, leaving them understaffed and underfunded when it comes to managing cyberattacks. Hospitals have also been reluctant to adopt new IT.

It is possible that the healthcare sector has lost up to $20 billion from ransomware attacks in 2021 alone, according to a study by Comparitech. To counter the potential losses from these attacks, hospitals need to invest in proper cybersecurity measures, such as regular audits and employee awareness training. For healthcare, even a moderate amount of preparation will go a long way towards covering these potential vulnerabilities.

Ransomware Protection in Government

While national governments may understand the measures needed to protect against ransomware, local governments and different branches of the public sector typically do not take the necessary precautions to fight cybercrime. This leads to the average payment for a local government ransomware attack to be around $1.5 million, according to the HHS Cybersecurity Program's Ransomware Trends 2021 report. 

First and foremost, local governments should practice active data backup and recovery. Most government agencies should learn how to use cloud archival storage to prevent reliance on a single network or storage system. If they can take this step, they will be able to recover from a potential cybersecurity threat without much damage.

Ransomware Protection in Energy

Energy and infrastructure were targets of some of the most infamous ransomware attacks in 2021. The Colonial Pipeline attack netted a ransom of $4.4 million dollars, and it goes without saying that additional attacks have yielded income for ransomware criminals.

Energy companies need to practice employee awareness training and education if they are to survive further cyberattacks. Additionally, since energy companies often have networks in multiple locations that need access to the same data, the energy industry will need to be diligent about updating and securing their software to prevent the usage of any possible exploits.

Different Industries Have Different Requirements

Given the uneven distribution of cybersecurity attacks in the past, it was believable 10 years ago that some industries could go untouched by cybercriminals. However, the cybercrime landscape has changed significantly. Now, industries that have neglected cybersecurity in the past have become the most vulnerable.

To protect against future ransomware attacks, each company in these industries will need to address their own cybersecurity needs. If possible, they should work with professionals to audit their current protection measures and establish guidelines for any potential cyberattacks. This way, there is a clear operating procedure for any threats, and employees can feel confident in their abilities to protect themselves and their communities.

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Original Source: Mimecast: How Different Industries Can Approach Ransomware Protection