Top 5 Reasons businesses should never pay a ransom to hackers

Up to 75% of small business leaders say they would pay ransom to cybercriminals to get their data back, when they should, in fact, be looking into ransomware removal…or ransomware protection before hackers extort them. The reasons leaders would pay for their data are easily understood, but there are even more reasons not to send money to these hackers.

Sadly, ransom attacks are increasing exponentially, and victims of ransomware are paying more money to get access to their encrypted files again. But, just because you pay a ransom doesn’t mean you’re guaranteed to get your files back. In fact, an article on Forbes.com, “Why You Should Never Pay a Ransomware Ransom,” says only 19% of victims who pay a ransom for return of their files actually get them back.

Ransomware protection and ransomware removal: your best defense

Your best defense against cyberattacks and hackers who encrypt your files and hold the unlock key for ransom, is of course, prevention. By working with cybersecurity experts, like the professionals at Locknet® Managed IT, you can rest assured that you have a team working to protect your data, whether you’re at the helm of a small, medium or large business in Wisconsin, Minnesota or Iowa. We’ll review your IT environment and examine your security posture and risk exposure. Together, we’ll put together a slate of products and services that help keep your business safe and secure from hackers and cybercriminals.

Top 5 reasons you should never pay ransom for your data

But what if you don’t have sufficient ransomware protection, and you do get hacked? Here are five reasons you should never pay ransom for your data.

1. The FBI cautions that you are encouraging more attacks 

Even the FBI cautions businesses against paying ransom if you fall victim to a cyberattack. With attacks becoming more common and even more complex, you may feel tempted to pay. However, the FBI says paying ransom only encourages hackers to continue their misdeeds.

2. Experts may be able to help you decrypt your files

Decryption is available for some ransomware, so depending on the nature of the attack against your business, experts, like the professionals at Locknet®, may be able to help. At the first sign of attack, reach out to security experts, instead of paying a ransom.

3. The ransomware could be fake

Some hackers use malicious software that is fake ransomware, and paying the ransom may have no bearing on the future access to your files. It may look real, and it can be terrifying, but resist the urge to pay the ransom. You may be able to access your files without it. Again, IT experts at Locknet® can help determine whether the ransomware is a real threat, and the best way to proceed. 

4. One ransom may not be enough

After they get your money, hackers know you have the means and ability to pay and may return later to demand even more. After all, what’s to prevent them from doing so? There are many stories of businesses which pay a ransom, only to have cybercriminals demand more money, sometimes multiple times.

5. Ransom pays for more, and more sophisticated cyberattacks

When you pay a ransom, not only does it encourage hackers to continue hacking, but it also allows them to buy top of the line equipment and software to strengthen their illicit efforts. Refuse to pay, and their bank accounts can run dry…not to mention, you’re eliminating the reason for the cybercrime in the first place.

Ransomware protection and education are working

The good news, according to the Forbes.com article, is that up to two-thirds of cybercrime victims are not paying ransom. Even better, among them, 86% recovered their files on their own because they had appropriate backup measures in place.

Do you have the right level of security protection and backup/recovery solution in place for your business? The experts at Locknet® Managed IT are here to help. Together, we can put into place the ransomware protection you need, or worst case scenario, help you with ransomware removal. Contact a Locknet Account Executive at 844-865-4968 for a review of your company’s data security and protection needs. We’ll make sure you’re not just safe. Locknet® safe.

 

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