Ransomware is expensive
Ransomware attacks are far more expensive than the ransom required for encrypted data. Ransomware attacks are becoming more frequent and cost far more than the ransom price. There is also lost revenue, operational disruptions, and loss of brand value. The loss of data could lead to the business’s collapse in an increasingly digital world. Data shortages can lead to the inability to unload perishable goods at ports, healthcare not being available to all who require it, and critical infrastructure being shut down when it is most needed. These disruptions and the associated costs often result in lower shareholder value and less trust in a company.
Ransomware: Legal implications
Legal implications can make ransomware mitigation more costly for businesses. Ransomware that damages personal information can be subject to legal action for business interruption.
The guidelines for personal data breach notification have been issued by the European Data Protection Board. These guidelines state that ransomware that results in encryption of personal data without backups and inability to restore it would be considered a breach in confidentiality, integrity, and availability. This situation should be reported to both the European Data Protection Supervisor as well as any affected data subjects.
Multiple laws in the United States state that ransomware response is an important aspect of legal compliance. Title 23 NYCRR Part 500 of the New York Department of Financial Services cybersecurity regulation. The Securities and Exchange Commission and Health Insurance Portability and Accountability Act are two examples.
Response to ransomware
For business operations to continue, ransomware response processes, policies, and strategies are essential. Ransomware criminals seek to infect computers with ransomware by relying on the weakest link in information systems, which is humans. Even the most diligent employee can become a danger with the internet available for click-through and the growing risks of email compromise.
It is important to have business continuity plans that include data recovery and backup. This will help reduce the impact of ransomware attacks on business operations. Viable backups are essential to a system capable of both avoiding ransom payment and continuing operations. It is possible to reduce the number of recovery points and focus on uninfected data points to prevent reinfections by ransomware that has been stored but not used. NetApp, a leader in data storage worldwide, is committed to offering the best backup and recovery solutions for our customers so they can resist ransomware threats.
How NetApp can mitigate ransomware threats
The theory is that no one should be forced to pay ransom to recover from cyberattacks. There are backup and recovery options. NetApp provides a variety of tools that enable our customers to plan for ransomware attacks and to implement disaster recovery plans and business continuity plans.
* NetApp’s professional consulting services are available to assist with security assessments and data protection.
* NetApp’s ebook, Ransomware In the Cloud contains resources and information that will help customers create a comprehensive plan to respond to ransomware.
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* NetApp Cloud Insights users can use NetApp Cloud Security to detect ransomware attacks. This trust-no one approach is used to analyze patterns of data access.
Customers can use NetApp Policy to prevent ransomware execution in storage environments.
* NetApp SnapCenter technology provides data recovery and business continuity options to help you recover from ransomware infection.
* NetApp understands that multiple platforms are necessary for operation. Our ransomware mitigation solutions include interoperability and Splunk enterprise environments.
NetApp offers solutions that will help you create ransomware mitigation and protection strategy, regardless of your storage requirements.