Learn how Privileged Access Management solutions can protect your business from ransomware.
Ransomware has remained one of the top threats to businesses of all shapes and sizes, but small to medium sized businesses remain the primary target.
- The Wider Picture: Almost 44% of all businesses have been impacted by a ransomware attack
- Reality Check: 82% of all ransomware attacks happen to small and medium sized businesses
Given the damage that ransomware has caused, we are seeking new ways to insulate your business from an attack. Privileged Access Management, or PAM, is a cost-effective solution that gives you and your IT provider granular control over what gets installed and run on user machines.
What is Ransomware?
Ransomware is a malicious software designed to infiltrate a computer network with the objective of encrypting data and applications. Once encrypted, data and files become inaccessible. The criminals will then demand an exorbitant amount of money to decrypt the files.
The Facts:
- 47% of organizations that pay the ransom, don’t get their data back.
- Paying the ransom does not guarantee your files won’t still go up for sale on the dark web.
- Paying the ransom makes you more susceptible to a second attack.
Common Attack Vectors
The attack vectors (ways criminals infiltrate) are numerous. Most often, criminals will gain access to an organizational computer by tricking a user into giving up login credentials. Once the credentials are stolen, it is only a matter of time before attackers gain access to top-level administrator credentials.
The most common attack vectors include:
- Phishing Emails: An email containing a malicious link designed to steal credentials
- Software Vulnerabilities: An unpatched opening allowing attackers access to your systems
- Remote Desktop Vulnerabilities: Remote access to sensitive systems
The Multilayered Approach
There is no silver bullet defense for protecting your organization. Organizations must deploy a multilayered approach to secure their network.
This includes:
- Firewalls
- Strong Passwords
- Multifactor Authentication
- Endpoint Detection and Response
- System logging
- Privileged Access Management
What is Privileged Access Management (PAM)?
PAM is a solution that gives you and your IT team complete control over what user accounts have access to. This solution helps to stop threat actors from using privileged accounts.
PAM provides the following benefits:
- Just-In-Time Access: PAM prevents normal users from installing or running software without direct approval, providing them with the minimum level of access necessary for the shortest time required
- Detailed Logging: Provides advanced logging for endpoint activity
- Cost Savings: Saves you money by streamlining the process for installing software or adjusting settings without having to open a ticket with IT
- Compliance: Provides additional compliance when your business is subject to something like HIPAA or CJIS requirements
- Lateral Attack Prevention: Limits the attack surface by stopping hackers at the first point of entry
- Insurance: Helps to satisfy cyber liability insurance requirements
The world of cybersecurity is constantly evolving. It is important that we continue to create layers of security to prevent attacks. PAM solutions offer a great deal of security at a low cost.
Ready to Learn More?
Our team is ready to help. We work with an extensive range of cybersecurity experts to provide the best possible solutions for your organization. We provide tailor-made security solutions that keep you, your users, and your customers safe from ever-evolving threats. Contact us to learn more.