The FTC and SBA have published guidance for small businesses regarding cybersecurity. They took a bit of an unusual tack - in addition to simply listing a list of expected protection (e.g. patch, encryption, insurance), they also created guidance based on top threats.

This threat-based guidance helps companies focus their efforts on the most likely and impactful events. If you only have limited resources (people or dollars), a threat-based strategy allows you to thoughtfully consider where to focus effort.

Ransomware has quickly gained a lot of attention in the cyber world. It has grown into one of the most prolific and profitable attacks online. Here are some key ways to defend your company from this evolving threat.

Have a Plan. What will your company do in the midst of a ransomware attack? How would you limit its spread? How long would it take to recover? How would your key business processes function if most computers were offline?
Back-Up. The recovery of ransomed (e.g. encrypted) data is unlikely. Sound and tested backup and restoration processes are critical.
Keep Your Security Up to Date. Many types of ransomware spread by means of computer vulnerabilities. Vendor security patches must be deployed ASAP to reduce the risk of widespread ransomware infections.
Alert Your Staff. Ransomware is often introduced to company networks by user mistakes. This can be clicking on dangerous emails or interacting with infected websites. Train your staff to detect and safely navigate these danger points.

Ransomware attacks are estimated to have cost businesses $11.5B in 2019. Be sure that protections are in place to protect your company from this pervasive threat.

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The Federal Trade Commission and Small Business Administration have collaborated to publish guidance (https://www.ftc.gov/tips-advice/business-center/small-businesses/cybersecurity) for these companies. This guidance is a great place to start for business leadership that is worried about cyber issues but aren’t sure where to begin.

North Wonders has produced a self-guided security assessment tool based on the SBA guidance referenced above. This tool (https://www.northwonders.com/offering/#self-guided) allows small businesses to quickly see their cyber hot spots and get actionable guidance on correcting any issues. For more information please contact us at Info@NorthWonders.com.