16% Increase in Ransomware Attacks on African Businesses

Keeping our finger on the pulse of all things security and online data backup related, is a practice we take great pride in. Recently it has been brought to our attention that African businesses are at high risk of financial and reputational losses, due to ransomware. In fact, over the past year there has been a huge increase in ransomware attacks – as much as 16%!

Reports from a leading data security company show that at least 89% of these ransomware attacks in Africa seem motivated by financial or espionage situations. While individuals are also at risk of the devastating effects of ransomware attacks, it is evident that the main target is businesses that deal with sensitive information, such as account holder personal data, payment information and similar.
 
Beware of phishing

One of the major offenders when it comes to ransomware is phishing. A tactic used for obtaining personal or sensitive information, a phishing email or text message contains a corrupt attachment. The message will direct the user to a linked website in order to update or confirm personal information. When the message is opened or an individual interacts with the sender, the cyber criminal uses this connection to access sensitive data, encrypt files on the device or gain access to user accounts. In the case of ransomware, the device owner will be prompted to make a payment or provide certain information in order to decrypt the files or receive them back.

With stats showing that at least 30% of phishing messages were actually opened during the course of last year, it is evident that the general African population (both individuals and businesses) have still not wised up to phishing and how exactly it works.

Companies that lose sensitive information or experience a data breach often suffer huge financial losses, and in many instances, the respect of their clients along the way. Business owners and private individuals are encouraged to backup their data on a daily (or regular) basis to ensure that data is safe, secure and doesn’t have to be located on the computer, device or hard drive where it is at risk. Backing up will also ensure that the data is secured with encryption – this is a must when seeking out a reliable backup service.

Business owners and IT departments are also encouraged to:

  • Have a strict set of IT rules pertaining to the use of devices and systems, for both business and personal use, connecting to the company network.
  • IT departments and users should ensure that all attachments are scrutinised before unknown emails are opened.
  • Ensure that all employers are ‘hacker-wise’.

How your employees conduct themselves with your business computers and devices will certainly have a direct impact on the ransomware-readiness of your business.

The risks aren’t new – they are just unfamiliar

The types of data and security breaches that we see happening on a daily basis, aren’t new risks. The problem lies in the fact that businesses and individuals aren’t prepared for attacks and don’t have the necessary security measures in place to protect their data, business and reputation.

If you’ve been a victim of ransomware or similar breaches / security risks, take the time to ensure that you set measures in place to protect your business or personal data going forward. A great first step would be to check out our online backup features and packages and to select a service that best suits your needs.

If you need information and advice on how to protect your sensitive data and systems / devices, contact us via email or telephone at Soteria Cloud today.