It’s a common misconception that only large companies are the targets of ransomware, in fact, it’s the opposite. SME’s are at risk of falling victim to cyber attacks, including ransomware. The threat of cyber attacks is always present no matter the size or industry. It’s important to have a plan in place to mitigate attacks and have layers of cyber protection for several reasons:
Protect critical data
Ransomware attacks often target critical data and systems, such as financial information, sensitive customer data, personal identification and business critical data. If this data is encrypted, it can be difficult or even impossible to recover without paying the ransom, which may not be feasible for all organisations.
Avoid financial losses
In addition to the cost of paying the ransom, organisations may incur significant financial losses from downtime, lost productivity, and potential damage to their reputation.
Maintain business continuity
Ransomware attacks can disrupt business operations and cause significant downtime. Mitigation strategies can help ensure that the organisation can continue to operate even if a ransomware attack occurs.
Comply with regulations
Depending on the industry, there may be regulations and standards that require organisations to take steps to protect sensitive data.
Improve overall security posture
Implementing mitigation strategies can help organisations improve their overall security posture and better protect themselves against other types of cyber attacks as well.
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