Corporate Cyber Attacks Are More Common Than You Think – 9 Tips for Businesses

2022-02-24
By: Advocate Brokerage

1. Plan Ahead – The most important step an organization can take to protect themselves from a cyber breach is to have a solid response plan in place. Your incident-response plan needs to cover all the necessary steps a security team would take when an attack occurs. Planning helps you to make smart decisions during a stressful event such as a corporate cyber-attack.
2. Consider Hiring An IT Firm – All businesses need to protect themselves against the very real threat of a cyber-attack. Data breaches are time-consuming and expensive, so it makes sense to invest in protection against these types of security threats by hiring a reputable IT firm.
3. Have A Conversation With Insurance Broker – Don’t make the mistake of thinking a cybercrime won’t affect your business. Having a conversation with your Insurance Broker about the types of cybercrimes your business may be at risk for is important. Talking to an insurance professional like those at Advocate Brokerage can help you take steps now that will protect the future of your business. Additionally, in the event of an attack, we are here for you. We can help to connect you with the resources that are available through your insurance provider to oversee the handling of the attack and help you remedy the breach.
4. Make Backups A High Priority – Cyber criminals are working harder to ensure that the companies they attack pay the ransom they demand. A new tactic is to scan networks, find backups and destroy them before deploying malware. Make sure backups are a high priority in your company. Store them properly so you won’t have to pay the ransom and potentially have no backup at all.
5. In The Event Of An Attack, Don’t Panic – Do your best to remain calm and remember that you have planned for this! Follow your incident response plan. Ransomware attacks are scary but there is nothing to gain when you panic so follow your plan your organization will return to normal business operations.
6. Enlist Help As Soon As Possible – As soon as you suspect a cyber-attack, reach out for help. If you are dealing with a ransomware-attack, then a third-party incident response provider is the best choice for handling the situation. Let their expertise work for you so you can avoid the attacker returning with different ransomware and requiring a higher ransom price. They can also help with the remediation of your system and increase your defenses to avoid any future potential attacks.
7. If You Experience A Cyber-Attack, Notify Law Enforcement – It is a good idea to get law enforcement and the local FBI involved when your company is experiencing a cyber breach. Not only will they help to find the ransomware gang responsible, but they may also be helpful by providing tools and resources to help recover encrypted information.
8. When Considering Negotiations, Seek Expert Advice – While it may be tempting to try to handle the situation on your own and negotiate the ransom price on behalf of your organization, it may not be in your best interest. Negotiation often leads to the ransomware gangs increasing the ransom price. If you feel negotiation is the best strategy, it’s best to hire an outside firm that specializes in these scenarios. It is also important to note that if you have Cyber Insurance, the carrier will most likely require you to involve them in any negotiations.
9. Contain the Malware – A loss of data will certainly be a high priority but also take steps to make sure the malware hasn’t spread. It is important to eliminate the original attack vector, find out what caused the breach, and then ensure that the threat is no longer spreading.