In today’s digital era, organizations around the world have taken a step towards transforming their operations and documentation into a digital format. Although this offers a number of benefits, including convenience, easy management and a streamlined work approach, this digital change also has its risks. The rise of cyber threats and ransomware attacks has highlighted the need for an effective cybersecurity incident response plan for organizations to protect their assets. 

What is a ransomware attack?

Ransomware is a type of malware that is designed to deny an organization or a user access to the files present on their device. Cybercriminals encrypt these important files and ask for a ransom, i.e., some compensation, to get the decryption code. In these situations, paying ransom in the form of money or some specified kind is the only way to get access back. There is also the added threat of stealing valuable data, which further forces the organization to comply and pay the ransom.  

According to a report published by Henley Business School in January this year, the British Library faced a ransomware attack in October last year, as a result of which over 500,000 files were stolen. Besides the damage caused by the information leak, the cost of reconstructing the entire system was significantly high, almost £6 to £7 million. 

How do I avert ransomware attacks?

The increasing number of recent ransomware attacks has created a sort of fear and panic among organizations, and they are now taking drastic steps to combat this threat. A safe and effective way to do this is by implementing a cybersecurity incident response plan. It is the process through which an organization detects and responds to cyber threats and malware using advanced technologies. A properly executed incident response plan helps a company’s cybersecurity department restrict and even prevent any attack. 

How does a cybersecurity incident response plan work?

A good cybersecurity incident response plan is undertaken in seven steps. These are:

1. Preparing for any threat through training and updating systems and communication channels.
2. Identifying the threat and evaluating its intensity.
3. Containing the threat by isolating all affected systems to stop it from spreading.
4. Eradicating the malware by handling the root cause and seeing if the affected systems are safe.
5. Recovering the systems and restoring them to their previous state.
6. Taking notes from the attack and learning what to do and what not to do. 
7. Implement the learning by further strengthening the systems and cyber security team training. 

Conclusion
While digitalization is now a necessity, the threat of ransomware cannot be ignored. So, it is essential for every organisation to implement a proper cybersecurity incident response plan to ensure that they conduct their operations safely. Avail this service from a notable service provider to experience peak security.