How much a cryptomalware attack could cost your business

One cryptomalware attack can cost an SMB up to $99k on average, according to Kapersky Lab.

The total damage of which is a combination of a variety of factors. These include partial or complete suspension of operations (financial transactions etc), the loss of valuable data and reputational risks.

Kapersky Lab says the total amount of damage can be divided into two parts: the ransom and the related losses. A certain amount of related damage is affected by shortcomings in the preventative work of the IT staff.

The research company says that for many small to medium businesses, the lack of resources and internal expertise in the field of information security causes a serious problem.

Kapersky Lab adds that in order to conduct a quality audit of the IT infrastructure and improve the efficiency of protection against cyberthreats, it is advisable to involve a third party with expertise in information security.

In order to prevent the loss of valuable business information and to minimise the risk of cryptomalware infection, Kapersky Lab recommends using its range of endpoint security for business solutions which integrates an array of proactive cloud protection technologies:

• The System Watcher module monitors key events in the operating system, whether it be a changing of settings, the usage of apps or the sharing data over the network.
• Kaspersky Security Network is a cloud system that automatically processes impersonated statistical data received from millions of users of Kaspersky Lab products worldwide who have consented to provide it.

If the company has been infected with cryptomalware and the data has been encrypted, Kaspersky Lab experts  also recommend to check whether this data can be restored with the help of free utilities or decryption keys.