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Cybersecurity: Myths And Assumptions About Ransomware

Ransomware is currently the greatest cybersecurity concern for organizations because it is also the most profitable tactic for tech criminals. The cost to those victimized by ransomware extends much farther than just the ransom. Clean-up and recovery, PR expenses, disruption to business, and the cost of reporting and compliance that come with data breaches can be devastating to any organization.

The cybersecurity world is rife with myths and assumptions that don’t hold up to facts, and ransomware is no exception. Here we will look at a few of them.

“A cybersecurity attack won’t happen to me.” Traditional firewall and antivirus applications are no longer adequate to protect from a modern cyberattack. If your organization is targeted, they will eventually find a way in. The best offense is having a thoughtful & strategic suite of security policies, tools, and processes in place. The best defense is to focus your efforts on preventing hackers from being able to move around and gain access to any of your data.

“Our data isn’t valuable to hackers.” Many small business owners assume that they will not be targeted because of the size or nature of their business. Unfortunately, this is a dangerous assumption. In reality, organizations of all sizes and types are being targeted every day, and anyone who doesn’t take precautions isn’t safe. Any company can easily be extorted by exposing employee data, client lists or customer credit cards, addresses, or other sensitive data.

“I’ll just pay the ransom and get my data back.” The first big problem with paying the ransom is that organizations that pay are often targeted again in future attacks. That’s not a precedent you want to set, and many times you still won’t even get your data back.

Beyond that, paying the ransom to recover your data is only the first way you pay. If the hackers were able to exfiltrate data, the attack is a reportable data breach and there are compliance guidelines and penalties involved. Insurance premiums will increase, legal fees will be incurred, additional security processes and software will need to be purchased, and after a data breach, your daily business is going to suffer as well.

“We don’t need cyber insurance.” Having a cyber insurance policy helps to minimize disruption of business during and following a cyber attack. It can also cover some or all of the financial cost of handling and recovering from the incident. Any organization that has an online component or sends or stores electronic data (which is basically every business organization) should have cyber insurance.

Cybersecurity Certainty with RAVENii RAVENii’s Security Operation Center (SOC) As A Service delivers powerful threat detection, incident response, and compliance management in one fully managed service. We combine all the security capabilities needed for effective security monitoring across your cloud and on-premises environments.

It eliminates the need to deploy, integrate, and maintain expensive solutions like a SIEM and maximizes your existing security investments like your firewall and antivirus by including their logs in our analysis. SOC As A Service offers low total cost of ownership (TCO) and flexible, scalable deployment options for organizations of any size or budget.

For more information about SOC As A Service or any other cybersecurity services from RAVENii, click here or call (844)317-0944 today.


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