How to Defend Your Business Against SaaS Ransomware

Between March and May of 2023, SaaS attacks increased by over 300%. No one wants their business to be a part of this statistic, so here’s how to make sure your business is well protected.

What is SaaS Ransomware?

SaaS (Software-as-a-Service) ransomware is also known as cloud ransomware. It’s malicious code designed to target cloud-based applications and services. These include services like Google Workspace, Microsoft 365, and other cloud collaboration platforms.

The attackers exploit vulnerabilities in these cloud-based systems. The ransomware then encrypts valuable data and effectively locks users out of their own accounts. Cybercriminals hold the data hostage. They then demand a ransom, often in the form of a money payment or cryptocurrency (so the transaction can’t be tracked). The ransom is in exchange for the decryption key.

What’s at Risk with SaaS Ransomware?

Saas Ransomware presents several risks to individuals and organisations. Here’s what to expect to suffer from during a ransomware attack.

Data Loss

The most immediate risk is the loss of critical data. You lose access to your cloud-based applications and files. This can cause productivity to grind to a halt.

Reputation Damage

A successful SaaS ransomware attack can tarnish your organization’s reputation. Customers and partners may lose trust in your ability to safeguard their data, negatively impacting your brand image.

Financial Impact

Paying the ransom is not guaranteed to result in data recovery. It may encourage attackers to target you again. Furthermore, the cost of downtime and recovery efforts can be substantial.

How to Defend Against SaaS Ransomware

It’s incredibly important that you try to prevent a ransomware attack before it’s too late. Here are some effective ways to protect your business from these threats. 

Cyber Security Training for Employees

As human error is one of the biggest dangers to a business, it’s important that your employees are aware about SaaS Ransomware and other various cyber attacks that could occur.

Explain how ransomware spreads through phishing emails, malicious links, or breached accounts. Teach them to recognize suspicious activities and report any unusual incidents immediately.

Enable Multi-Factor Authentication (MFA)

MFA is an essential layer of security. It requires users to provide an extra form of authentication to access accounts. This is often a one-time code sent to their mobile device. Enabling MFA reduces the risk of unauthorized access. This is true, even if a hacker compromises an account’s login credentials.

Regular Backups

Frequently backing up your data is crucial. In the event of a ransomware attack, you’ll still have your data. Having up-to-date backups ensures that you can restore your files. You won’t need to pay the attacker’s ransom demands.

Keep Software Up to Date

Ensure that you keep all software (SaaS applications, operating systems, etc.) up to date. They should have the latest security patches installed. Regular updates close known vulnerabilities and strengthen your defense.

Track Account Activity

Put in place robust monitoring of user activity and network traffic. Suspicious behavior can be early indicators of an attack. One example to watch for is several failed login attempts. Another is access from unusual locations.

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We provide fully inclusive, onsite and remote IT support. In addition to that, it won't cost you extra for an engineer to attend your site to resolve a technical issue.

Device Status Monitoring

When we take on your IT support, we deploy our monitoring agent onto all devices and servers. This alerts us to any issues which you may be unaware of.

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Over 90% of cyber attacks start with a phishing email. It's crucial that your business has the best defence against cyber criminals and scams when regarding your mailbox.

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Cyber Security Training

To keep you even safer from hackers, we provide globally recognised and market leading Cyber security training by PhishingTackle. This online training portal will provide your teams with guidance and information to reduce the risk of hackers and scams.

Asset and Warranty Tracking & Reporting

We provide you with a list of your current assets in the business by using our powerful remote management tools. This creates a monthly asset report so you can keep track of your hardware life cycles.

Reformed IT Academy

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Password Manager

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Cyber Threat Monitoring

With Huntress, you'll have an extra layer of security to help keep hackers out of your business. You'll be able to Monitor cyber attacks and malicious activity.

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