Cyber-Attacks: Suggested Preventative Steps

Cyber-Attacks: Suggested Preventative Steps
Roy McGrath, Head Outsourced Business, Santam March 02, 2017

~ Ransomware ~
Cyber-Attacks: Suggested Preventative Steps

 
The internet has transformed world economies and as such enabled the digital economy to thrive through greater connectivity, but the changes have increased risks. This rise in connectivity introduced an increase in the frequency, severity and sophistication of cyber-attacks hence a need for businesses to rethink their approach to the threat of cyber-attacks.

Recently, some of our binder holders experienced business outages as a result of cyber-attacks. These cyber-attacks took place in the form of ransomware. Ransomware encrypts (i.e. scrambles) all information on the computer, rendering it useless. In order to decrypt (i.e. unscramble) the information, a ransom is usually extorted from the user.

Prevention is better than cure, and therefore we want to share a few steps that you can take to help you deal with the threat of malware to your business.
 
Defending your business against malware:
1. Request that your IT Service Provider do the following:
  a. Perform backups on a regular schedule.
    i. Rationale: It is not possible to recover information encrypted by modern ransomware. The only way to recover lost information is to restore information from backups and/or recapture lost information.
    ii Ideally on a daily basis, but NO less than on a weekly basis
      1. Rationale: In the event of information needing to be restored from backup, business transactions that were not part of the backup will need to be recaptured. Recapturing these transactions is time consuming; therefore, the more frequently backups are made, the less time will be lost due to recapturing and the sooner clients can be serviced after an incident.
    iii Follow a 3-2-1 backup strategy.
      1. Have at least three separate backup copies of your data.
        a. Rationale: Disasters happen; multiple backup copies help to ensure that should something happen to one backup; another will still be available.
      2 Two backup copies should be stored locally, BUT on different devices. (i.e. computers and/or media)
        a. Rationale: If something happens to one of the devices (i.e. hard drive crash) then there is a copy on the second device. It’s faster to restore information from a local backup.
      3 At LEAST one backup must be stored offsite.
        Rationale: If disaster befell the onsite location (i.e. fire, flood, theft, etc.) then at least of backup copy would still exist offsite.
         
  b. Install and run anti-malware solutions on all computers
    i. Rationale: As ransomware is a malware variation, implementing anti-malware solutions will help reduce the occurrences of ransomware outbreaks taking place.
         
2. The following action should be taken:
  a. Conduct awareness campaigns with your staff regarding malware
    i. Rationale: The majority of ransomware is distributed via malicious email attachments. Raising awareness amongst staff will go a long way toward limiting ransomware exposure. Typically, this takes the form of a “Think before you click” style campaign.
    ii. Don’t click on emails from unknown sources, just delete them.
 
If you have any questions about ransomware or how to prevent cyber-attacks in your business, please contact your relationship manager.
 
Credit To:   McGrath, R. (2017, February 28).  Cyber-attacks and the suggested preventative steps.   Santam.  Santam Newsletter.   Retrieved from: Received via e-mail.
   
Also Refer to the Cyber Liability Insurance Article
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