Not a day goes by that we don’t hear of a significant ransomware episode that either creates a large payout, or worse—brings a business to a standstill. As these attacks have become more prevalent and successful, these criminal hackers have become emboldened. Yet businesses do not have to helplessly wait for their enterprise to be the next headline. There are solutions.
Simply put, ransomware is a type of malware that encrypts a victim’s files. The attacker then demands a ransom from the victim to decrypt the files. These attacks can be financially devastating for businesses, which is why having the correct protection in place is key.
Axis Computer Networks provides a great solution to help protect against these attacks. Enter Managed Detection and Response (MDR)—the next level of cyber protection.
Managed Detection and Response
MDR is a step above anti-virus protection and provides a proactive approach to detecting and responding to cyber-attacks. Our MDR solutions use advanced analytics and threat intelligence to detect and respond to cyber threats in real time with a 24/7 Security Operations Center. This can include blocking malicious traffic, quarantining suspicious files, providing alerts, and resolving threats immediately.
Due to the sophistication of these attacks, the anti-virus software protection and MDR solutions are key elements of any company’s cyber security plan. And while there can be no guarantees against a ransomware attack, having these systems in place and managed properly is a key requirement from most insurance companies to provide the next level of protection—supplemental cyber security insurance.
Cyber Security Insurance
Cyber security insurance provides financial protection in the unfortunate event of a successful cyber-attack. This can include coverage for the cost of restoring lost or damaged data, as well as the cost of hiring a crisis management team to handle the aftermath of an attack. Just like any insurance policy, there are requirements that must be met in order for claims to be paid. These requirements are at the core of the services Axis provides, and typically include maintaining proper security controls such the anti-virus software, establishing firewalls, and regularly backing up data.
In addition to protecting against ransomware attacks, in order to diminish risk and financial exposure, businesses must consider compliance with various regulations, such as NIST, CMMC, and the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS). These regulations set standards for protecting sensitive personal data that may be shared with your company as a matter of a typical business transaction. Failure to comply with these regulations can result in significant fines, and as a result has attracted a legal industry looking for the smallest violation they can litigate. As part of a comprehensive IT services strategy, Axis can implement the necessary controls and regularly monitors for compliance. This includes providing regular security assessments, and employee training on proper data handling procedures.
Protecting against ransomware attacks and providing proper processes and systems is an essential part of any company’s success. It’s a multi-faceted approach that requires a combination of technological solutions and sound security practices. Axis Computer Networks plays a vital role in providing these solutions, protecting our clients against this growing threat.
Not only are we ready to assist your company in obtaining/renewing supplemental cyber security insurance, but our staff is ready to ensure that you are compliant with relevant regulations to minimize risk.
Interested in learning more about Axis Computer Networks ransomware protection? Set up an appointment with one of our experts.