Ransomware Protection For Vancouver Accounting Firms

Are you looking for information on ransomware? You’re reading the right article.

Cases of cyberattacks have been rapidly increasing over the years, with each new category of attack being more sophisticated than the last. The two industries most commonly targeted globally are financial services and health care. More specifically, small and mid-sized accounting firms have become deliberate and primary targets for hackers. This is due to the sensitivity of the data they keep, as well as their lack of the sophisticated cybersecurity infrastructure that the larger firms tend to have.

As accounting firms embrace remote working, their security needs have become more critical than ever. Although mobile devices offer much-needed convenience while working remotely, they have increased the firms’ cybersecurity risks.

What Is Ransomware? Ransomware is a type of malware designed to lock a user out of their systems. Once they are locked out, their data, computers, files, and networks are taken hostage by encrypting files and blocking owners’ access. Once data is encrypted, the attacker will demand payment (often via cryptocurrency) to restore files access. According to a report by the FBI, since January 2016, there has been an average of 4000 ransomware attacks daily.

Ransomware enters your system in various ways; downloads of malicious software from the internet, clicking on fake ads, or even removable USB drives. However, the most common way is through phishing.

Most Ransomware Is Delivered Via Phishing Schemes: Relying on human error, attackers trick end-users into activating malicious software often disguised in emails as attachments or links. These emails often look official as if they come from an authoritative source.

What Is the Cost of a Ransomware Attack on Vancouver Accounting Firms?

Recovering from a cyberattack is more expensive than preventing one.  Most cybercriminals plan attacks to extort money out of accounting firms by demanding a ransom. According to a recent survey, paying the ransom doubles the cost of recovering from a ransomware attack. In reality, almost 40% of companies that pay a ransom never get their data back, and 73% of them are targeted later.

Therefore, you must take the necessary measures to protect yourself from a ransomware attack.

How Can Your Vancouver Accounting Firm Protect Your Firm From Ransomware Attacks?

The following are cybersecurity measures that you should implement to protect your firm from cyberattacks:

  • Develop and Continually Review Your Cybersecurity Response Plan: A response plan is a well-documented written plan with distinct phases that will help you deal with a cybersecurity incident. It should always be up-to-date. The plan should be clear on who should do what, who will be called, and what protocols will be followed. This will help your firm avoid the confusion and mistakes that waste time in such a crisis.
  • Enable Strong Spam Filters: The spam filter will prevent phishing emails from reaching end-users.
  • Implement Cybersecurity Awareness Training: Phishing emails against accounting firms usually target employees. Your employees must be aware of the threat of ransomware attacks and how they are delivered. Cybersecurity awareness training increases your employees’ awareness levels. It gives them the practical skills needed to better protect your business from the dangers of data breaches, network attacks, and ransomware threats.
  • Implement a Firewall: Configure firewalls to block access to malicious IP addresses. A firewall helps you establish a barrier between your internal network and incoming traffic from external sources to block malicious traffic.
  • Installation of Security Software: It’s essential to set up security software such as antivirus and anti-malware programs on your system. They will regularly scan, detect, and remove malicious programs.
  • Secure Mobile Devices: Protecting these devices entails encryption, password protection, and enabling the ‘wiping’ option.
  • Regularly Back Up Your Data: Frequently back-up your data on an external hard-drive or the cloud to ensure that your information is stored safely. Also, periodically verify the integrity of the back-ups.
  • Adopt Cloud-based Computing Solutions: Cloud security consists of technologies that work together to protect cloud-based systems, data, and infrastructure. The cloud offers the protection needed when backing up data.
  • Implement Access Control and Authorization Protocols: Access control and authorization methods will guarantee that users are who they say they are and have the appropriate authority to access company data.

In a high-risk industry such as accounting, keeping your data safe from a ransomware attack is crucial. As ransomware attacks become more sophisticated, so should your security measures.

Looking For a Reliable Cybersecurity Solutions Provider in Vancouver?

Your firm needs reliable, up-to-date, and affordable cybersecurity solutions to keep your business operations running and minimize cybersecurity risks.

At Compunet InfoTech, we offer years of expertise and experience in providing businesses in Vancouver with reliable and tailor-made cybersecurity solutions.

Consult with us today to discover how we can help you keep your accounting firm’s network and data safe from ransomware attacks.