The Triumph of Ransomware: How to Avoid Becoming a Hostage in 2024

In 2023, the US experienced a 73% increase in ransomware attacks. Here are some of the most high-profile attacks:

However, 2024 has it worse. Ransomware attacks in 2024 were more prevalent in the first Q1 compared to the previous year. It reached an all-time high, but according to the experts, it may become a concerning trend in the years ahead.

Since the first quarter of 2024 already set a new record for ransomware activity, it’s only natural to ask what fueled it. In most instances, the same issues were present in 2023. Here are some factors that contribute to the rise of ransomware attacks:

Whether a company is a startup or an established enterprise, there are several ways to minimize the risk of ransomware. Here are some tips to consider in 2024:

• Implement a Robust Backup and Recovery Strategy
  A company should regularly backup and encrypt critical data and systems. This way, even if your company suffers a cybersecurity breach, it will be easier to mitigate the after-effects. If you maintain access to crucial information, a cyberattack might only cause operation disruptions instead of permanent damages.
• Provide Cybersecurity Training to Workers
  Most of the time, the human factor is the weakest link in a company’s cybersecurity structure. Employees must learn to identify threats, including phishing attempts, ransomware, and other social engineering techniques. If a cyberattack does occur, your employees might learn how to act to mitigate the damages, preventing further harm to company data.
• Adopt a Reliable Network Security Service
  Network security service providers can offer a comprehensive suite of security solutions, such as intrusion detection and prevention systems, firewalls, or advanced threat monitoring. Find a reputable network security provider to protect your business in the increasingly unsafe digital world.
• Keep Software and Systems Up-to-Date
  Cybercriminals commonly begin their attack by assessing vulnerabilities. Security vulnerabilities are often present in old software or systems that haven’t been updated. Because of this, companies should always keep their operating systems and applications up-to-date. Updates come with the latest security patches that address known vulnerabilities.
• Use a Virtual Private Network
  You can boost your online privacy and overall cybersecurity with a reliable VPN provider. It masks your IP address and encrypts your network connections, making them unavailable to third parties. A VPN is especially useful if your company relies on remote workers who often use public hotspots and unsecured networks. Some premium VPNs contain malware protection and anti-tracker features that significantly decrease the chances of a ransomware attack.
• Develop and Test a Response Plan
  How a company responds to a ransomware attack is crucial to successful damage control. Without well-defined procedures to isolate infected systems promptly, the harm will skyrocket. Develop an incident response plan and test it out. Hire a cybersecurity company to perform penetration tests to see how your defenses stack against attacks. Address vulnerabilities discovered in the attack to boost your cybersecurity further.

With constant technological advancements, our possibilities continue to grow, as do the cyber threats lurking inside them. The good news is that modern cybersecurity offers many reliable tools to prevent devastating hacking incidents like ransomware. It’s impossible to be completely safe from any kind of cyberattack. However, taking strong preventative measures and being mindful of the risks might help you avoid becoming a part of concerning statistics.