Who’s at Risk?

The reality is that any business, no matter the size or industry, could be targeted. However, certain sectors are more frequently attacked. Industries like manufacturing, professional services, and wholesale trade are at the top of the list. Alarmingly, the healthcare and social assistance sectors are also seeing a sharp rise in attacks, despite the significant societal impact these could have.

Cybercriminals are strategic in their operations. They often target regions experiencing strong economic growth and where they can exploit language similarities. For example, cyber extortion attacks in the United States have jumped by 108%.

Protecting Your Business from Cyber Extortion

The rise in cyber extortion is concerning, but there are steps you can take to safeguard your business:

1. Back Up Your Data: Ensure you have a solid backup plan in place. Store critical data in an offline or offsite location and regularly test your backup restoration process to ensure it works when needed.
2. Keep Software Updated: Regularly update all devices, especially those connected to the internet, with the latest software. Staying current helps close security gaps that cybercriminals could exploit.
3. Implement Multi-Factor Authentication (MFA): Strengthen your security by requiring multiple forms of verification before granting access. MFA adds an extra layer of protection and ensures that only authorized users can access your systems.
4. Patch and Vulnerability Management: Stay on top of updates and patches for your systems. Cybercriminals often exploit known vulnerabilities, so addressing these issues promptly can prevent many attacks.

By understanding the threat of cyber extortion and taking proactive measures, you can better protect your business. If you need help preparing your business and keeping it safe, we’re here to assist you.