Experiencing a ransomware attack on your business can be daunting, but taking prompt and decisive action can help limit the damage and accelerate recovery. At KT Connections, we are dedicated to supporting small and medium-sized businesses (SMBs) and preparing them for the worst-case scenarios.
We understand the challenges you face juggling day-to-day operations and customer satisfaction, and know the last thing you want is to have your systems compromised by ransomware. That’s why we’re here to equip you with the tools to spot and tackle ransomware attacks before they can cause serious harm to your business.
What is Ransomware and Why Should You Care?
Ransomware is a malicious software that encrypts files or restricts access to systems, compelling victims to pay a ransom, typically in cryptocurrency, for recovery. Cybercriminals will often exploit vulnerabilities, employ phishing emails, or leverage weak passwords to gain unauthorized access. Once they infiltrate a network, they can spread their malware rapidly and infect your entire network.
Recent statistics indicate a troubling increase in ransomware incidents, with attacks rising by 13% over a five-year period (2020-2025). Victims incur an average cost of approximately $1.85 million for each incident. In 2023, 59% of organizations reported being targeted by ransomware, and experts anticipate that this trend will persist through 2025, with a global average of 4,000 attacks occurring daily. The exploitation of vulnerabilities remains the leading cause of these incidents, and the average ransom payment is estimated at around $1 million.
Small and medium-sized Businesses (SMBs) are particularly susceptible to ransomware attacks due to often lacking the comprehensive security infrastructure present in larger organizations. Despite handling sensitive and valuable information, SMBs may find it challenging to absorb the repercussions of a cyber incident. Such disruptions can lead to significant downtime, lost revenue, and potential regulatory penalties, posing critical challenges that many small businesses are ill-equipped to manage.
Immediate Steps to Take During a Ransomware Attack
Now that we covered what ransomware is and why small business owners should care about it, let’s tackle what to do if you fall victim to an advanced ransomware attack. If you suspect or confirm a ransomware attack, follow these steps to contain the threat, assess the damage, and begin recovery. These recommendations are tailored for SMBs and align with industry best practices.
1. Isolate Affected Systems Immediately
- Action: Disconnect infected devices from the network to prevent the ransomware from spreading. Unplug Ethernet cables, disable Wi-Fi, and isolate critical systems like servers.
- Why: Ransomware can propagate across networks, infecting backups or other devices. Quick isolation limits its reach.
How KT Connections Can Help: Our managed IT services can help you identify and isolate affected systems remotely, minimizing downtime.
2. Do Not Pay the Ransom
- Action: Avoid paying the ransom unless absolutely necessary, as advised by law enforcement. Payment doesn’t guarantee data recovery and may encourage further attacks or demands.
- Why: The Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) strongly discourage ransom payments, noting that 80% of victims who pay still face data loss or additional demands.
What Can You Do?: Consult with legal and cybersecurity experts before considering payment. KT Connections can help connect you with trusted partners for guidance.
3. Secure and Preserve Evidence
- Action: Take snapshots or images of affected systems before powering them down, if possible. Preserve logs, ransom notes, and other evidence without altering them.
- Why: This helps with forensic analysis and potential law enforcement investigations.
How KT Connections Can Help: Our cybersecurity team can assist in safely preserving evidence for analysis and reporting.
4. Notify Key Stakeholders
- Action: Inform your IT team, company leadership, and employees about the attack. Notify customers if their data may be compromised, as required by regulations like General Data Protection Regulation (GDPR) or state laws SDCL § 22-40-19 to 22-40-26 & Wyo. Stat. § 40-12-501 et seq.
- Why: Transparency ensures compliance and maintains trust. Delayed notifications can lead to legal penalties.
What Can You Do?: Work with a legal advisor to craft notifications. KT Connections can help coordinate communications as part of our incident response support.
5. Contact Authorities and Report the Incident
- Action: Report the attack to local law enforcement and the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov. If you’re in the U.S., you can also notify CISA via their reporting form.
- Why: Reporting aids investigations and may provide access to recovery resources.
How KT Connections Can Help: We can guide you through the reporting process, ensuring compliance with regulatory requirements.
6. Engage Professional Cybersecurity Support
- Action: Contact a managed IT or cybersecurity provider like KT Connections immediately. Avoid attempting to decrypt files without expert help.
- Why: Professionals can assess the ransomware strain, check for decryption tools, and guide recovery efforts.
How KT Connections Can Help: As a Certified Microsoft Cloud Solution Provider, we offer rapid response services, including threat analysis and system restoration.
7. Restore from Clean Backups
- Action: Use verified, uninfected backups to restore data. Ensure backups are free of malware before restoring.
- Why: Clean backups can bypass the need for ransom payment, saving time and money.
How KT Connections Can Help: Our cloud backup solutions ensure secure, off-site backups are available for quick restoration, tested regularly for integrity.
8. Assess and Remove the Malware
- Action: Use reputable antivirus or endpoint detection tools to scan and remove ransomware from affected systems. Rebuild systems from trusted sources if necessary.
- Why: Residual malware can reinfect systems or networks if not fully eradicated.
How KT Connections Can Help: Our 24/7 monitoring and endpoint protection services can clean systems and prevent reinfection.
9. Update and Strengthen Security Post-Recovery
- Action: Patch vulnerabilities, enable multi-factor authentication (MFA), and update all software. Conduct employee training to prevent future phishing attacks.
- Why: Attackers often exploit the same weaknesses again. Strengthening defenses is critical.
How KT Connections Can Help: We provide comprehensive post-incident reviews, security audits, and training to fortify your defenses.
10. Review and Update Your Incident Response Plan
- Action: Document lessons learned and update your incident response plan to address gaps exposed by the attack.
- Why: A refined plan improves future preparedness and response times.
How KT Connections Can Help: Our team can help develop and test a tailored incident response plan to ensure resilience.
At KT Connections, we understand the unique needs of local small businesses. Our managed IT and cybersecurity services are designed to minimize downtime and protect your business from threats like ransomware. From rapid incident response to secure cloud backups and ongoing monitoring, we provide compliance-focused solutions tailored to your needs. Our business-first approach, backed by years of client insights, ensures you recover quickly and emerge stronger.
Don’t navigate this alone—contact KT Connections and get a dedicated partner in your cybersecurity. Together, we’ll get your business on track and more secure than ever.